This investment was sold to a family office investor in June 2016, and the partnership realized a leveraged IRR of more than twice the targeted yield of the opportunity fund equity partner.
A Calabasas Hotel
In July 2012, Channel West, in partnership with an institutional investment fund, acquired a 122-room hotel in the center of the affluent Southern California community of Calabasas. When acquired from the property's former lender, the hotel was being operated as a 2-Star Country Inn & Suites. It had significant deferred maintenance, including the need for full guestroom and lobby renovations and an overall HVAC system replacement.
Channel West completed a comprehensive redevelopment and reopened the hotel as The Anza, A Calabasas Hotel. The Anza is now an independent, upscale hotel that features an expanded lobby, newly created Bistro & Bar, fully refurbished guestrooms, and modernized pool/cabana area.
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