A new Mama Shelter property will open in Downtown Los Angeles’ fashion district. The future opening has been announced in the wake of the $18 million acquisition of an adaptive reuse hospitality redevelopment site by Shivom, LLC.
Shivom, LLC will partner with Sammy Chotirmal of Hospitality Solutions to construct the new hotel, which will be a combination adaptive reuse and new construction redevelopment. The site currently houes a fully vacant and non-operational 70,744 ft² office building.
The 7-storey hotel is set to boast 149 keys, including penthouse suites, a rooftop pool, different F&B options, and parking facilities. It has been announced that SBE will operate the future concepts.
Mike Condon Jr, Erica Finck, Connor Martin, McKenna Gaskill, and Rob Hooks of Cushman & Wakefield represented the seller in the transaction. Shivom, LLC was represented by Jim DeRegt of Lee & Associates.
This transaction is a key turning point in Downtown Los Angeles’ post-pandemic hospitality market. Many experts recognise the lifestyle and boutique hotel segment in DTLA has been recently setting performance records, despite what is happening with other product types in the submarket. As DTLA recovers and continues to zoom past pre-pandemic revenue and occupancy benchmarks, we expect this to be the first big news on new hospitality development demand, but certainly not the last as we have other exciting development deals in the pipeline anticipated to be announced early next year. The news that a world-renowned lifestyle operator like Mama Shelter is joining other major projects in the Fashion District, like Brookfield’s newly delivered CMC project, demonstrates that the Fashion District is the next “it” micro-market in DTLA. We are confident that we will see lifestyle operators continue to pour back into this area as well as corporate users, as already evidenced by major brands such as Forever 21 and Adidas which have joined the fold into LA’s new, hottest submarket—The Fashion District.
Mike Condon, Vice Chairman of Cushman & Wakefield