COTTONWOOD GROUP LENDS TO 8850 SUNSET ON THE ICONIC SUNSET STRIP IN WEST HOLLYWOOD

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Aug 02, 2022, 13:00 ET

Private equity real estate firm closes $62 million financing deal

LOS ANGELES, Aug. 2, 2022 /PRNewswire/ -- Cottonwood Group ("Cottonwood"), a private equity real estate investment firm, is pleased to announce it closed a $62 million loan for 8850 Sunset Boulevard, located in West Hollywood on the iconic Sunset Strip. Cottonwood Chief Investment Officer Mark Green made the announcement.

8850 Sunset is coming to West Hollywood in 2023. COURTESY OF LUXIGON

8850 Sunset's impressive West Hollywood location–positioned on a full city block, where the legendary Viper Room is located, at the intersection of WeHo and Beverly Hills—makes for optimal development and enhancement opportunities. Currently a retail strip center, the property is going through re-entitlement and will transition into a mixed-use development, including a re-designed venue and recording studio, multiple eateries, cafes, retail spaces, a five-star hotel, 26 condominiums and eight income restricted housing units.

"We are pleased to have provided financing for such a historical Hollywood landmark, said Green. This transaction showcases Cottonwood's unique ability to furnish creative capital solutions for compelling opportunities that benefit all parties."

The deal was executed as part of Cottonwood's strategic platform with BCEG International Investment - US (BCEGI-US), which was announced in 2020.

"BCEG-US and Cottonwood's partnership and strategic investment platform remains strong through uncertain market conditions." said BCEGI-US General Manager Ting Ting Han. "Our symbiotic working relationship and considerable lineup of skills and expertise has allowed us to work together to bring these esteemed new projects to new life."

About Cottonwood Group

Headquartered in Los Angeles, Cottonwood is a private equity real estate investment firm focused on equity and debt opportunities across all property sectors and geographies. The firm's ability to act as a lender, investor, operator, and sponsor of real estate investments of all sizes and complexities is fundamental to delivering a risk-adjusted absolute return for investors. Investing out of its discretionary Cottonwood Real Estate Founders Fund and separate institutional accounts, Cottonwood targets U.S. real estate opportunities with a capitalization of up to $1 billion. For more information, visit www.cottonwoodmgmt.com.

SOURCE Cottonwood Group