Kor Group teams up with Goldman Sachs to buy LA’s Custom Hotel

George Sell George Sell Uploaded 31 August 2017

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US: The Kor Group has acquired the Custom Hotel in a joint venture with the merchant banking division of Goldman, Sachs & Co. LLC.

In addition to Custom Hotel, Goldman, Sachs & Co. LLC is also the lead capital partner on The Kor Group's Austin Proper Hotel & Residences and Santa Monica Proper Hotel, both of which are under construction and opening in early 2019. 

The 250-room Custom Hotel is described as the only lifestyle boutique hotel near Playa Vista and Los Angeles International Airport (LAX), and will be managed by Proper Hospitality, the California-based luxury lifestyle hotel operator. Located two miles east of the Pacific Ocean along Lincoln Boulevard in the Westchester neighborhood of West Los Angeles, the property strategically sits within close proximity to Loyola Marymount University, the Otis School of Design, and the beachside community of Playa Del Rey.

Mid-century architect Welton Beckett originally designed the 12-story building in 1968. It features modern lines and minimalist design touches, large guest rooms with panoramic city and ocean views, 7,000 square feet of indoor and outdoor meeting space, and a two-level pool deck, restaurant, and bar.

"There's a huge need for design-driven, budget-conscious hotel options on the Westside of LA, where business travellers are looking for easy access to Playa Vista and Silicon Beach, and leisure travellers want boutique options that serve as a gateway to LA's beach communities," said Brian De Lowe, president and partner at The Kor Group and president and co-founder of Proper Hospitality. "We're extremely excited to continue our partnership with Goldman Sachs, and to bring this shared vision to life with Custom Hotel."

Custom Hotel marks Proper Hospitality's fourth boutique property in Southern California, joining Avalon Beverly Hills, Avalon Palm Springs, and Hollywood Proper Residences.

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