The Continental Building

HOTEL - RENOVATION

ACRES funded a $30.5 million first mortgage loan to cover the predevelopment for the construction and renovation of a boutique, full-service hotel managed by Hilton as a Curio Brand Hotel. The loan will be used to fund a portion of the acquisition cost of the property as well as predevelopment costs to convert the existing 56-unit apartment building to a new hotel comprised of the following:

• 149 guest rooms with an average size of 380 square feet
• An open-concept ground-floor lobby with a restaurant/bar/bakery, private meeting and function space, and a fitness center
• Sky-bridge access to a rooftop gathering space on the adjacent Hellman Building that will feature a swimming pool, bars, and cabanas
• A nightclub and cocktail lounge with 20’ ceiling heights on the top floor as well as a speakeasy/bar/lounge in the basement

This hotel will be well-appointed with modern features and a contemporary design to accentuate the historical and architectural significance of the property.

The property’s immediate neighborhood, within the Historic District in DTLA, is experiencing a wave of redevelopment making it a true live-work-play environment.