Schrager, Scheetz land $117M to refinance WeHo hotel amid full-scale rehab
Ian Schrager and Ed Scheetz scored a $116.5 million loan to refinance the Public Hotel West Hollywood. The hotel moguls obtained the bridge loan for the 137-room shuttered hotel at 8300 Sunset Boulevard, L.A. Business First reported. The financing was provided by Driftwood Capital and Benefit Street Partners. The borrowers were represented by brokers Rob Rubano, JP LeVeque and Joe Lieske of Cushman & Wakefield. The duo bought the former Standard Hollywood hotel in 2023 for $112.5 million, or $821,168 per room. The deal was delayed for months because of a legal battle over its billboard. At the time of […]This article originally appeared on The Real Deal. Click here to read the full story.
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