Mesa West Capital, a mortgage lender based in Brentwood, recently provided a $55 million refinance loan for the Burton House, Beverly Hills, a Marriott affiliate, which debuted in May 2024.
Previously the Residence Inn Beverly Hills, the hotel underwent a $13.7 million renovation after being folded into Marriott’s Tribute Portfolio Hotels & Resorts in 2024.
Updates for the 186-room hotel included room redesigns, upgraded lobby, dining and social areas, a new lounge and fitness center, and a 1,100-square-foot yoga and Pilates studio. An affiliate of Seaview Investors, which has been involved with the property since 2003, oversaw the renovation.
Joshua Westerberg, who leads Mesa West’s West Coast origination team, said the refinancing will give the hotel “time to continue driving operating performance under the new brand and to compete with other luxury hotels in the Beverly Hills market,” according to a release.
“The Burton House is already establishing itself within the market as it leverages the upgraded offerings and guest experience, the Marriott brand and its prime location,” Westerberg said in a statement, noting “significant increases in both net operating income and occupancy since renovations were completed.”
Located at 1177 S. Beverly Drive, the hotel sits in the Pico-Robertson neighborhood, in between Beverlywood and Beverly Hills.
“We see even further upside as Seaview continues to season the asset,” Westerberg added.
In 2024, Los Angeles ranked No. 2 for highest occupancy of major West Coast markets in the hospitality sector, according to Marcus & Millichap. Of the top 104 hospitality markets in the U.S., L.A was 15th in occupancy rate in the first quarter of the year, according to Newmark.
