Hotel & Residences at L.A. Live Named 2010 Hotel Development of the Year
January 26, 2011
The Hotel & Residences at L.A. Live, downtown Los Angeles’s newest landmark, has been named 2010 Development of the Year by the Americas Lodging Investment Summit, an annual conference co-hosted by the American Hotel & Lodging Association and Burba Hotel Network.
MacFarlane Partners invested in the development of the 54-story high-rise through a joint venture with AEG. The tower serves as the cornerstone of L.A. Live, a sports, residential and entertainment district developed by AEG on land adjacent to the Staples Center and the L.A. Convention Center. It houses an 878-room JW Marriott, a 123-room Ritz-Carlton Hotel, and 224 Ritz-Carlton Residences residential condominiums. The two hotels opened in 2010 and the condominiums were completed in 2011.
MacFarlane Partners made the investment on behalf of MacFarlane Urban Real Estate Fund II, its institutional real estate fund that invests in development, redevelopment and repositioning projects in urban and high-density suburban areas nationwide.
Click here to read the press release issued by the Americas Lodging Investment Summit on January 26, 2011.
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