Hotel Books $10M Makeover
Laurus Corp has slated a $10M renovation for its newly acquired Marriott Warner Center in Woodland Hills. The 16-story, 474-room hotel is located in the 101 Technology Corridor, an area along the Ventura (101) Freeway that's had an influx of tech companies and corporate campuses. (Perhaps instead of chocolates on their pillows, they'd find Candy Crush Saga color bombs.) The firm focuses on value-add opps requiring complex structuring, active management, repositioning, and renovation. Ethika Investments, a real estate investment fund affiliated with Laurus, provided capital for the deal.