It didn't end up as part of a Chapter 11 filing like so many hotels, but the circular
Hotel Angeleno in the Brentwood area of Los Angeles has been sold in what appears to be a deal in the nick of time. The
LA Times is reporting that the hotel has been sold for $35 million. The sellers were investors led by Namco Capital Group Inc. which is headed by Ezri Namvar. Both Namco and Namvar had filed for Chapter 11 in recent months. The 16-story tower near the 405 freeway was a Holiday Inn for 35 years before it got a new name and a posh renovation in 2006. It remains open and is managed by Joie de Vivre which manages a string of boutique hotels in California and other places. Rates at the Angeleno start at $179.
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