Hodges Ward Elliott have announced the sale of the 84-room Georgian hotel in Santa Monica, California for an undisclosed price.
LOS ANGELES, Aug. 25, 2020 -- Hodges Ward Elliott ("HWE"), the premier boutique real estate capital markets advisor, announced it represented a buyer group comprised of BLVD Hospitality, along with Global Mutual and ESI, in the acquisition of The Georgian, a legendary boutique hotel located in Santa Monica, California along the city's renowned Ocean Avenue.
An HWE team composed of Tony Malk, Managing Director, Brett Katz, Managing Director, Diana Simpson, Director and Jordan Kirkbride, Vice President advised the buyer on the acquisition and capitalization for the hotel. The acquisition was finalized in an off-market deal between BLVD and the previous owners of the hotel, who have held the property since 1991.
Built in 1933, the world-famous Georgian hotel is known as Santa Monica's "First Lady" and is widely recognized for its distinctive turquoise color and famous period revival Art Deco design. The iconic hotel is located above the Santa Monica Pier and serves as one of Los Angeles County's remaining nostalgic vestiges of Old Hollywood.
On the transaction, Tony Malk says, "This was truly a generational investment opportunity that was sourced and closed due to the established presence and connectivity that BLVD has in the Los Angeles market. Global Mutual and ESI were able to move with exceptional speed alongside BLVD to take advantage of a unique moment in the hotel capital markets."
The Georgian features 84 guest rooms and suites, ocean view dining at the hotel's on-site Veranda Restaurant, and premier event space, in addition to a 24-hour business center and fitness room.
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