Elevated Returns Buys Majority Interest in Sunset Tower Hotel for $75M

by Nellie Day

LOS ANGELES — Elevated Returns has purchased an 80 percent stake in the 81-room Sunset Tower hotel in West Hollywood for $75 million. The hotel is located at 8358 Sunset Blvd.

Partial owner and operator Jeff Klein will retain his 20 percent stake in the Art Deco hotel. He will also continue his role in the day-to-day operations of the property.

Elevated Returns also recently purchased the St. Regis Resort in Aspen, Colo., as well as the Chefs Club restaurants in Aspen and New York. Stephane De Baets leads the group.

The seller was KKHG Sunset Tower LLC, an investment group headed by Peter Krulewitch. JLL’s Jeffrey Davis, John Strauss and Tony Muscio executed the transaction.

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