Boutique Hotel Build Planned in NoHo

LOS ANGELES—A local developer has purchased two adjacent development sites, a commercial property and a residential property, totaling 26,000 square feet in the North Hollywood submarket from Dennis Scheer and Thomas Enslin and from 11135 Burbank Blvd RG LLC. The developer plans to build a 70-room boutique hotel on the site. It is scheduled to break ground in the fourth quarter this year.

Mariela Iamburg, VP of investment sales at Rosano Partners, assembled the two sites and marketed the property as a hotel development, working with the city to secure permits and approvals for the project. “The sellers of the larger commercial site came to me to sell the property. I then approached the owner of the second property to assemble a large-enough development site,” Iamburg tells GlobeSt.com. “We got an investment loan to purchase the small parcel. We originally wanted to market it as a mixed-use development site, but we discovered that there are too many restrictions that the city has off of that particular corridor. The next opportunity came about with the hotel, and the city was very excited about the idea.” Iamburg represented the sellers in the transaction, while Lux Realty represented the buyer, a local and unnamed developer.