Jones Lang LaSalle secured $125 million in refinancing proceeds on behalf of SBE Entertainment Group and Nimes Capital for the SLS Hotel in Beverly Hills.
The award-winning luxury hotel contains 297 rooms and is a member of Starwood Hotels & Resorts Luxury Collection. SBE Entertainment acquired the property, formerly Hotel Nikko and Le Meridien, in November 2005. The firm undertook a three-year redevelopment, reopening the asset as SLS Hotel in October 2008.
Mathew Comfort, Reid McGlamery, Mike Huth, John Strauss and James Stockdale, of Jones Lang LaSalle’s hotels and hospitality group, negotiated this refinancing.
The financing for the SLS Hotel at Beverly Hills represents a unique opportunity to lend on a high-quality, trend-setting hotel that is well-located in one of the top lodging markets in the country and backed by premier sponsorship,” said Comfort in a statement. “SBE Entertainment Group is well positioned to capitalize on further food and beverage opportunities and continue the impressive top- and bottom-line results the hotel has achieved to date.&rdquo