“Tourism, development and infrastructure activity are the driving factors behind the planned conversion of a 13-story office tower near Los Angeles World Airports into a dual-branded hotel. The office structure at 5959 Century Blvd. will be renovated into a 129-room Hyatt House and 272-room Hyatt Place Hotel for Hyatt Hotels Corp. of Chicago, according to investment banker George Smith Partners. The Century City-based firm arranged $50 million in construction financing for the conversion project on behalf of the owner, a limited liability entity named 5959 and an affiliate of West Los Angeles hotel financier and developer California Real Estate Regional Center…”
