SANTA MONICA—BLVD Hospitality, Global Mutual, and ESI purchased the historic boutique hotel The Georgian in Santa Monica.
Known as Santa Monica’s “First Lady,” the hotel is located above the Santa Monica Pier and, “serves as one of Los Angeles County’s remaining nostalgic vestiges of Old Hollywood,” as real estate advisor Hodges Ward Elliot describes.
The purchasing of the boutique hotel was finalized in an off-market deal between BLVD and the hotel’s previous owners. The hotel was built in 1933, although the previous owners purchased it in 1991.
“I have coveted the Georgian for over 10 years, even before I formed BLVD… This is a dream come true. The entire team … looks forward to restoring the hotel to its original glory and giving new life to the hotel and Santa Monica,” said CEO Jon Blanchard about the purchase of the hotel.
In Los Angeles, BLVD is responsible for the re-use development of the Ace Hotel and SOHO Warehouse. BLVD is currently in the midst of modular construction on the CitizenM Hotel.
The Georgian has 84 guest rooms and suites, ocean view dining at the hotel’s restaurant, the Veranda, and 24-hour business and fitness rooms. The hotel is recognizable from its distinct turquoise color and features a revival art deco design.
“This was truly a generational investment opportunity that was sourced and closed due to the established presence and connectivity that BLVD has in the Los Angeles market. Global Mutual and ESI were able to move with exceptional speed alongside BLVD to take advantage of a unique moment in the hotel capital markets,” said Tony Malk, the managing director of Hodges Ward Elliot.