Downtown Los Angeles Proper Hotel Featured in Architectural Digest

Posted by Juline Kaleyias on
The view from the rooftop pool of the Downtown L.A. Proper Hotel, designed by Kelly Wearstler.

“It is filled with this aura of Old Hollywood, and it was our job to bring this landmark into the modern age,” says AD100 Hall of Fame designer Kelly Wearstler of her latest project: reimagining and recasting a circa-1926 California Renaissance Revival building by architects Curlett & Beelman in Los Angeles’s South Park District into the Downtown L.A. Proper Hotel. It was originally a swank private club, with Cecil B. DeMille as a member; then, around the 1960s, it became a YWCA, some vestiges of which Wearstler fashioned into novel suites.

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EB5 Capital Celebrates the Opening of Downtown Los Angeles Proper Hotel

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WASHINGTON, Oct. 18, 2021 (GLOBE NEWSWIRE) — EB5 Capital joins The Kor Group in celebrating the grand opening of the Downtown LA Proper Hotel in Los Angeles, California. Downtown LA Proper is a 13-story, 148-room luxury lifestyle hotel in the heart of Downtown LA. The property showcases the vision of internationally acclaimed designer Kelly Wearstler, who blends modern influences with vintage elements, referencing the site’s history. The property was initially a private club in the 1920s frequented by members of Hollywood.

“We are very excited to celebrate the opening of the Downtown LA Proper,” said Patrick Rainey, EB5 Capital Senior Vice President of Investments. “Since our initial introduction to the project, we have been excited about what the Proper brand will offer to such an exciting and growing market in Downtown Los Angeles.”

The property features three distinct food and beverage spaces operating in partnership with James Beard Foundation award winners Suzanne Goin and Caroline Styne of The Lucques Group. In addition, there are 14,000 square feet of meeting space and a rooftop pool with unobstructed panoramic views of the city. Downtown LA Proper will be managed by Proper Hospitality, which was named “Hotelier of the Year” in 2020 by Hospitality Design. Proper Hospitality has an award-winning portfolio of luxury lifestyle hotels and residences that offer unique design, world-class amenities, original food and beverage collaborations, and diverse cultural programming.

EB5 Capital invested more than $65 million in this project. “The opening of Proper Hotel is an important milestone to our investors,” said Nhat Phuong Huynh, EB5 Capital’s Vice President of Investor Relations. “Our investors – all of whom are foreign – come from ten different nationalities, and they have all been anticipating this hotel opening since they first invested with us.”

LA-based real estate developer, The Kor Group, has developed Proper Hotels in three other locations, including San Francisco, Santa Monica, and Austin (Hotel and Residences). New developments are in the works for Miami and Portland.

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225 North Calvert Project Receives Repayment

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Press Release

WASHINGTON, Sept. 10, 2021 (GLOBE NEWSWIRE) — EB5 Capital announced today its $20 million preferred equity investment in CP Capital US’s (formerly known as HQ Capital Real Estate) 225 North Calvert has been repaid in full.

225 North Calvert, located in Baltimore, Maryland, is a mixed-use redevelopment of a downtown office building into a 347-unit luxury apartment building with ground-floor retail. Construction began in late 2016 and was completed in November of 2018. The amenities offered by 225 North Calvert are upscale and designed to attract young professionals. Its 9,500 square feet of ground-floor retail space adds to the exciting atmosphere of the area as downtown Baltimore continues growing into an attractive destination for living, dining, and entertaining.

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In Her Own Words: Lulu Gordon Sees a Seismic Shift in How We Work

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We can’t go back to our pre-pandemic ways of thinking. Business as usual won’t do. The workforce won’t tolerate the old ways, and they shouldn’t have to. People in the U.S. and around the world finally began to comprehend what globalization means, how vulnerable we are as human beings and as a planet. Our priorities have shifted – I believe for good, and for the better.

Lulu Gordon, Senior Vice President & General Counsel, EB5 Capital

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EB5 Capital Celebrates Two Multifamily Openings

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Press Release

WASHINGTON, June 14, 2021 (GLOBE NEWSWIRE) — EB5 Capital joins Foulger-Pratt in celebrating the opening of two multifamily developments this month in Northeast Washington, DC.

Press House and One501 both opened on June 1, 2021. Press House, EB5 Capital’s 21st project, consists of two towers with 356 apartments and approximately 15,000 square feet of ground-floor retail. One501, EB5 Capital’s 26th project, offers 327 apartment units and 9,000 square feet of ground-floor retail. Both Press House and One501 are metro-accessible and only minutes away from DC’s renowned Union Market, a gourmet food hall that has become a mecca for food connoisseurs from around the DC area. EB5 Capital and Foulger-Pratt have collaborated on three EB-5 projects together.

“We congratulate Foulger-Pratt and EB5 Capital’s 135 foreign investors on these major milestones,” said Patrick Rainey, EB5 Capital’s Senior Vice President of Investments. “Both Press House and One501 are unique in their own ways and bring incredible value to the NoMa and Eckington submarkets.”

Over the past decade, the District of Columbia has experienced a 14.6% increase in its population, representing the seventh highest urban growth rate in the United States. Most COVID-19 restrictions have been recently lifted in DC and the multifamily market is experiencing a steady increase in demand. EB5 Capital continues to focus on multifamily investments in the DC metro area and is currently raising capital for a similar project.

About EB5 Capital

EB5 Capital provides qualified investors from around the world with opportunities to invest in job-creating commercial real estate projects to obtain U.S. permanent residency, as well as private equity investments and secondary passports. For more information, visit http://www.eb5capital.com.