Priority Capital Advisory (PCA) has successfully secured $35 million in debt financing for the Robertson Lane project, a highly anticipated 400,000-square-foot retail and hotel development in West Hollywood. The financing was arranged by PCA president Zachary Streit and provided by Centennial Bank.
According to Streit, this deal is a testament to the fact that quality sponsors with a strong development vision can still secure attractive pre-development land financing. He also highlighted the prime location of the property as a major factor contributing to its success.
Located at 645-681 N. Robertson Blvd., this project comprises of eight contiguous lots on the west side of Robertson Boulevard near Santa Monica Boulevard. Originally entitled for a 10-story hotel and underground parking garage, ownership later revised their plans for a luxury hotel with office space above ground-floor retail and an underground garage. The historic Factory Building from 1929 will also be preserved as part of these current plans.
This successful refinancing showcases PCA’s expertise in securing funding for high-quality developments like Robertson Lane without compromising on their clients’ vision or business plan.
