Ian Schrager’s West Hollywood Hotel Redevelopment Scores $116M Bridge Financing

Cushman & Wakefield arranged $116.5 million in bridge financing for the PUBLIC Hotel West Hollywood, a 137-key luxury lifestyle hotel located on the Sunset Strip in West Hollywood. Driftwood Capital and Benefit Street Partners provided the financing. The loan refinances the acquisition and construction facility placed in 2024 to fund the purchase and conversion of the property from the former Standard Hotel into the PUBLIC Hotel West Hollywood.

The Cushman & Wakefield team, led by Rob Rubano, JP LeVeque and Joe Lieske, represented the borrower, hotelier Ian Schrager and Ed Scheetz. “PUBLIC Hotel West Hollywood pairs one of the most iconic names in hospitality with one of the strongest lifestyle-hotel submarkets in the country,” said Rubano

He continued, “The quality of the asset and the strength of the sponsorship led to a strong financing execution that positions the property for long-term success. We are seeing a significant resurgence across the Sunset Strip, and the timing could not be better for PUBLIC to capitalize on the momentum and anticipation building around this widely anticipated reopening.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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