Koreatown Hotel Names Financial Advisor

LOS ANGELES-Wilshire Line Fund LLC has named NMS Capital Group exclusive financial advisor to the $85 million Line Hotel in Koreatown. NMS Capital Group will provide investment-banking services for the transaction, including capital raising efforts.

A partnership between Sydell Group LLC and investor Ron Burkle‘s Yucaipa Fund own the project. Wilshire Line Fund, which hired NMS Capital Group, has an agreement with Sydell to provide $16 million in EB-5 funding for the project. EB-5 funding allows foreign nationals and their immediate families to earn a green card for $500,000 investments made in an employment area or $1 million investments made in a business enterprise.