Nimes Real Estate Gets Peachtree Group Hotel Financing

A boutique hotel in Burbank is headed for a makeover after securing crucial funds. 

Nimes Real Estate will receive $55 million of bridge financing to recapitalize the Hotel Amarano Burbank-Hollywood, Commercial Observer reported. Beverly Hills-based Nimes secured the three-year, floating-rate loan with two 12-month extension options from Atlanta-based Peachtree Group. 

Nimes bought the 132-room hotel at 322 North Pass Avenue in 2019 from Pebblebrook Hotel Trust, dropping $72.9 million on the property, before completing a multimillion-dollar renovation.

The hotel, under Nimes’ ownership, faced business challenges from the onset of the pandemic in early 2020 and the five-month Writers Guild of America strike in 2023, Keegan Bisch, vice president of originations and credit at Peachtree, told CO. The recapitalization will enable the hotel to stabilize, thanks in part to its location in the middle of the Burbank Media District. 

Its proximity to Warner Bros. and Disney Studios already makes it the top booking hotel in the L.A. region for both studios, according to CO. “There is already a ton of in-place demand that they draw from,” Bisch said. “It’s a very high-quality, renovated hotel, plus there is a lot of growth in the market, so they are well positioned to take advantage of that.” 

Warner Bros. is in the midst of a 30-acre expansion of its campus a mile away from the hotel which is expected to drive traffic to the lodging property. In addition to the growth of the Warner Bros. complex, Disney’s move to consolidate its 52-acre Fox Studio Lot in Burbank, as well as NBCUniversal’s addition of more than 1.2 million square feet of new office and production space, are also expected to increase visitorship to the Hotel Amarano. 

Other nearby hotel properties include The Tangerine at 3901 West Riverside Drive, a Best Western Plus at 3910 West Riverside Drive, and the Coast Burbank Hotel at 2011 West Olive Avenue. 

— Chris Malone Méndez

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