LOS ANGELES — Mesa West Capital has provided an affiliate of Seaview Investors with $55 million in first mortgage debt to refinance Burton House Beverly Hills, a 186-room full-service hotel in West Los Angeles. Eastdil Secured arranged the five-year, nonrecourse financing.
Seaview, which has been an investment partner in the hotel since 2003, recently completed a $13.7 million renovation as part of a repositioning under Marriott’s Tribute Portfolio Hotels & Resorts brand. Improvements included the redesign of guest rooms, the development of the Emerald Lounge, a new dining and social concept, updated entrances, a revamped lobby, new fitness center and a 1,100-square-foot yoga and Pilates studio. The refinancing provides the sponsor time to continue driving operating performance under the new brand and to compete with other luxury hotels in the Beverly Hills market, according to Mesa West.