Priority Capital Advisory (PCA) arranged $35 million in debt financing to refinance Faring’s planned 400,000-square-foot Robertson Lane trophy retail and hotel project in West Hollywood. PCA president Zachary Streit arranged the financing, which was provided by Centennial Bank.

“This deal illustrates that attractive pre-development land financing can still be found for quality sponsors with a great development vision, well-located property, and a sound business plan,” said Streit. “This is a tremendously well-located parcel for retail, as its sits in a mature commercial market surrounded by high end residential communities, with excellent visibility and vehicular access with dual street frontage.”

With an official address of 645-681 N. Robertson Blvd., the land is an assemblage of eight contiguous lots located on the west side of Robertson Boulevard just south of Santa Monica Boulevard. The assembled site was originally entitled for a 10-story, 237-key hotel and a three-level, 750-car underground parking garage.

In 2022, ownership submitted a revised plan for a 123-key luxury hotel and seven-story office tower over ground-floor retail and a subterranean garage. Current plans include the adaptive reuse and rehabilitation of the Factory Building, an historic structure dating to 1929.