NMS Capital Group, a Beverly Hills based multi-discipline financial services firm, has announced that its wholly-owned subsidiary, NMS Capital Securities has been engaged as the financial advisor in connection with an $85-million mixed-use L.A. Line Hotel Project in Los Angeles’ Koreatown.
The project is owned, developed and operated by affiliates of Sydell Group, a New York based owner, developer and operator of lifestyle-oriented hotels, in partnership with Los Angeles billionaire investor Ron Burkle through his Yucaipa Fund.
Sydell has entered into an agreement with Wilshire Line Fund to provide $16 million in EB-5 financing toward the project. NMS Securities has been engaged by Wilshire as the exclusive financial advisor for the project to provide investment banking services related to the capital raise and the transaction.
Once completed, the renovated 389-room hotel will carry the new brand created by Sydell, "The Line." It will have two restaurants, a nightclub, a lobby bar and lounge, a café, a dramatic pool deck and the modernization of nearly 10,000 square feet of meeting space.