9200 (Const)

Beverly Hills, CA

9200 (Const)

Lotus arranged $190 million ground-up construction financing for a rare 54-unit hotel-branded luxury condominium and ground floor retail development in Beverly Hills.

$190,000,000Loan Amount
$3.5 MillionLoan Per Unit
Mandarin Oriental:Flag
Ground-Up & Construction Financing

Overview

Our Client desired to develop a site amassing a full city block along Wilshire Boulevard into Mandarin Oriental-branded luxury condominiums. Lotus was able to secure financing at $3.5 million per Unit, the highest ever in the state of California. Lotus was also able to negotiate a covenant-lite loan, issued with fewer restrictions on the borrower. Lotus succeeded at presenting an argument for the borrower’s business plan despite Beverly Hills not being known as a condo market.

Lotus represented a JV partnership between SHVO, BLG Capital, and Deutsche Finance Group on this assignment. The transaction's two LPs also included the largest public insurer in Germany, along with Germany’s largest manager of public pension schemes. ACORE Capital was the lender for the financing.

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