Pebblebrook Hotel Purchases The Redbury
Posted by Alex Mazariegos on Aug 14, 2013 - 3:29:27 PM
The Redbury Hotel
HOLLYWOOD—The Pebblebrook Hotel Trust, a publicly traded real estate investment trust, announced in a news release on August 8 that it has purchased the well-known Redbury Hotel for a sum of $34 million.
Management company SBE Hotel Group will continue to maintain the estate's managerial affairs in proper order. The luxurious boardinghouse is joining the company of other Pebblebrook properties, including the Mondrian Hotel in West Hollywood and the soon-to-be rebranded Sheraton Delfina in
Santa Monica. The company's repertoire is currently comprised of 27 properties, valued at $2.1 billion, and Pebblebrook's acquisition of the Redbury Hotel is the fourth such kind in west
“We’re thrilled with the acquisition of the Redbury in the dynamic, high-barrier-to-entry
Hollywood neighborhood,” said Jon Bortz, Chairman, President and Chief Executive Officer of Pebblebrook Hotel Trust in a news release. “The steady demand growth of the market, along with a historically constrained supply environment, provides excellent operating fundamentals for the market and the hotel.”
The Redbury consists of 57 guest flats, which according to the hotel's website are "thoughtfully" decorated in a Bohemian counter-culture milieu. The hotel rooms strive to convey a comfortable atmosphere for its guests, and such attempts at comfort include walk-in showers, room-bound washers and driers, European-style kitchens with gas burners, and sizable high-definition LCD televisions with DVD and DVR. The Redbury sits near numerous famed locations, such as the Hollywood Walk of Fame and the Hollywood Bowl.
On August 9, Pebblebrook posted on their Twitter account, “We acquired the @TheRedbury yesterday. @TheRedbury, welcome to the family!”
The Redbury Hotel is located at
1717 Vine Street, near the intersection of
Hollywood and Vine. For more information on the hotel, patrons may visit at http://theredbury.com/.
Serving Bel Air, Benedict Canyon, Beverly Hills. Brentwood, Laurel Canyon, Los Feliz, Malibu, Pacific Palisades, Melrose, Santa Monica, Sherman Oaks, Studio City, Topanga, Canyon, Westwood & Hollywood Hills.