Cushman & Wakefield arranged $116.5 million in bridge financing for the PUBLIC Hotel West Hollywood, a 137-key luxury lifestyle hotel located on the Sunset Strip in West Hollywood. Driftwood Capital and Benefit Street Partners provided the financing. The loan refinances the acquisition and construction facility placed in 2024 to fund the purchase and conversion of the property from the former Standard Hotel into the PUBLIC Hotel West Hollywood.
The Cushman & Wakefield team, led by Rob Rubano, JP LeVeque and Joe Lieske, represented the borrower, hotelier Ian Schrager and Ed Scheetz. “PUBLIC Hotel West Hollywood pairs one of the most iconic names in hospitality with one of the strongest lifestyle-hotel submarkets in the country,” said Rubano.
He continued, “The quality of the asset and the strength of the sponsorship led to a strong financing execution that positions the property for long-term success. We are seeing a significant resurgence across the Sunset Strip, and the timing could not be better for PUBLIC to capitalize on the momentum and anticipation building around this widely anticipated reopening.”
