Own a hotel in Los Angeles? Then, you’re probably feeling some pain. Relevant’s Grant King is these days. A lender wants to sell the equity interests in the Dream Hollywood hotel, owned by a company connected to Relevant. A foreclosure auction is scheduled for mid-October. The lender, LCP Group, alleges Relevant owes more than $30 million in unpaid debt connected to the 10-story, 178-key hotel at 6417 Selma Avenue. King, for his part, said Relevant is working on a loan recapitalization and extension with the lender. If he loses the hotel, it wouldn’t be the first time. The Tommie and […]
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