Los Angeles, CA – August 5, 2021 - RobertDouglas advised Braemar Hotels & Resorts in its purchase of the iconic Mr. C Beverly Hills Hotel in Los Angeles for $65.4 million, along with five adjacent residences for $12.5 million. The acquisition was funded with approximately $30 million in cash, 2.5 million OP units, 500,000 warrants at a strike price of $6, and a $30 million mortgage loan. Located in West Lost Angeles, Mr. C Beverly Hills comprises 138 bedrooms, a full-service spa with outdoor pool area, a fitness centre, event spaces and dining venues. Remington Hotels has signed an agreement to manage the property.
RobertDouglas is a real estate investment banking firm with offices in New York, Nashville, Los Angeles, and San Francisco that specializes in the sale, financing, and equity capitalization of hotel, resort, and gaming properties throughout North America. Founded by two of the hotel industry’s pre‐eminent finance professionals, Rob Stiles and Doug Hercher, RobertDouglas offers exceptional domestic and international institutional investor and lender relationships. RobertDouglas combines the capital markets sophistication of top-tier investment banks with detailed hotel underwriting and asset management experience, providing the firm with unique capabilities in an underserved market. For more information, contact info@robert‐douglas.com or go to www.robert-douglas.com.