Unlikely Duo Set to Acquire Los Angeles Hotel
In a recent article by XXL Mag, the music and culture magazine reported that global musicians Nipsey Hussle and DJ Khaled are part of a bid to acquire a famous Los Angeles hotel. The syndicate’s bid is said to be led by leading real estate developers David Gross and R. Donahue Peebles. Also in on the act is real estate company Bracket VC and ex-Chicago Bulls basketball star Luol Deng.
The hotel in question is the 4* Santa Monica Viceroy, California. And if the deal for the leasehold goes through, then it is reported that this will be the first time a “minority group will own a high-end hotel in the coveted Santa Monica area, according to journalist Lindsey India’s news article, the announcement has already started to create buzz in the region, and would be without doubt one of the most well known collectives to have ever joined forces to obtain a hotel in recent times.
The hotel is a very popular high-end retreat for celebrities and the elite of the elite. It has 162 luxury rooms, faces out onto the Santa Monica Beach, and is located on the esteemed Ocean Drive. Its prime real estate, although it has been on the market since August 2017, it is only now that the syndicate has officially lodged a bid to take the leasehold. Ocean Drive is right next to the famous 405 intestate which Philippine Airlines guide to Los Angeles states is the gateway to the rest of the United States. So it’s not surprising that the famous syndicate wants to get their hands on the Santa Monica Viceroy due to it being so accessible to guests driving into Los Angeles from neighboring states.
This is certainly not the first time DJ Khaled has sought to invest in local communities in the United States. The popular singer was given the key to the city by his hometown Miami, for all the work he has done with his local community over the years.
Nipsey has also made a name for himself for investing in cryptocurrencies. He told Forbes in an interview, he felt the need to diversify his portfolio as his wealth grew. This is probably why he is now looking at the hotel industry as the next asset he can add to his growing and diverse portfolio.
It’s unclear whether the bid for the leasehold will be successful, but in terms of marketing and creating noise around the possible acquisition, the two music moguls are doing a sterling job already. They also have real estate developers David Gross and R. Donahue Peebles to guide them with their experience. Although it’s early days, it is looking very likely the Santa Monica Viceroy will have new leaseholders in the near future.