An investment syndicate led by Los Angeles-based developer and investor David Gross and real estate icon R. Donahue Peebles are leading a bid to acquire the leasehold for the historic Viceroy Santa Monica, a luxury hotel located on Ocean Avenue in Downtown Santa Monica. Gross, the CEO of The Confluent Group, and Peebles, Chairman and CEO of The Peebles Corporation, are partnering with a prominent group of entertainers and entrepreneurs in their pursuit of the 162 room luxury, beach hotel.
The group of investors also includes:
Bracket VC, VC and Real Estate Investment Firm with offices in LA and Doha D3N9, Santa Monica based Private Equity and Real Estate Investment Firm
Luol Deng, NBA Player, Real Estate Investor and Philanthropist
Nipsey Hussle, Record Label Owner, Musician and Entrepreneur
DJ Khaled, Record Label Executive, Producer, Television Star
LaSalle Hotel Properties, leaseholders of the Viceroy Santa Monica, started shopping the property in early August 2017. This group led by Gross would likely be the most notable collective of names to express interest in the Viceroy.
Said Gross of the group’s bid “The Viceroy is one of my favorite hotels in the Los Angeles area. It has an incredible location and an understated, cool vibe. My partners and I are uniquely capable of repositioning the property as the luxury, boutique hotel with the most dynamic hospitality experience in Santa Monica, and the Westside of LA generally.”
If Gross and team are able to secure the deal, the investment firm will make history by being the first minority led group to own a high-end hotel in the coveted Santa Monica area.