OXFORD CAPITAL GROUP, LLC ANNOUNCES SUCCESSFUL RECAPITALIZATION OF GODFREY HOTEL HOLLYWOOD, BRAND’S FIRST WEST COAST SITE
LOS ANGELES, August 18, 2022 /PRNewswire/ — Oxford Capital Group, LLC today announces the successful recapitalization of its construction debt and equity at its most recent California– hotel property, The Godfrey Hotel in Hollywood, including Alliance Bernstein senior debt and Related Fund Management preferred stock. On the heels of its first full year in Los Angeles, The Godfrey Hotel Hollywood – a 220-room luxury lifestyle hotel with the SoCal-centric ALK restaurant and bar; a courtyard event space with seven adjacent hospitality suites; and the 12,000 square foot I|O roof (from hollywood largest rooftop space), featuring a 70-foot projection mapping video wall, two bars, a pool, fire pits and a water feature, will continue to be sponsored and operated by Oxford Capital Group, LLC and Oxford Hotels & Resorts, LLC, respectively. After opening its doors in August 2021The Godfrey Hotel Hollywood is Oxford’s 10e California property, and 12e in the western region.
“We are thrilled not only to see continued institutional interest in our growing portfolio of brands and lifestyle assets nationwide, but also to have recapitalized our building capital stack with two class-leading companies. world shortly after successfully developing and opening the property,” said Sarang PeruriChief Operating Officer of Oxford Capital Group, LLC and Partner of Oxford Hotels & Resorts, LLC.
John W. RutledgeFounder, Chairman and CEO of Oxford Capital Group, LLC and Oxford Hotels & Resorts, LLC, added, “In times of financial market volatility and inflation, closing a complex recapitalization of this nature was gratifying. . This successful transaction is a testament to the resilience and growth prospects of Los Angeles and the dynamism of Hollywood sub-market.”
Michael Paille of Hodges Ward Elliottwho advised the transaction, said: “Despite a challenging capital markets environment, Oxford Capital Group’s operational expertise combined with The Godfrey Hotel’s asset quality has created a competitive landscape for senior debt. Alliance Bernstein’s strength in the hotel lending industry uniquely positioned their platform to provide strategic lending.”
About the Godfrey Hollywood Hotel
Located in the vibrant heart of Southern California most iconic neighborhood, the Godfrey Hotel Hollywood is one block south of Sunset Blvd. and is within walking distance of many of the area’s top destinations. This includes the famous Hollywood Bowl Amphitheater, Universal Studios, Capitol Records Building, Hollywood Walk of Fame, Grauman’s Chinese Theatre, Hollywood Pantages Theater and more. With art made by Los Angeles native artist Nick Petronzio in partnership with the curator Kevin Barry fine artinterior designer The Gettys Group and architect Steinberg Hart, this brand new 220-room hotel embodies the energy of the new Hollywood. It came at an exciting time for the neighborhood, as major entertainment, tech and creative houses now call the area home, including Netflix, Live Nation, Fender and Buzzfeed. Locals and visitors enjoy the property’s SoCal-centric ALK restaurant and bar and rooftop I | O of 12,000 square feet, including a 70-foot projection mapping video wall, two bars, a swimming pool, fire pits and a water feature. The Godfrey Hotel Hollywood is Oxford Hotels & Resorts’ 10th hotel in California and 12th in the West region. To learn more about The Godfrey Hollywood, visit www.godfreyhotelhollywood.com, or follow @godfreyhotelhollywood on Instagram.
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SOURCE The Godfrey Hollywood Hotel
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