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The owner of the 118-room Sixty Beverly Hills missed an August maturity date, and the $40M loan secured by the hotel has again moved to special servicing. The loan balance is $37M, according to Morningstar Credit.
The loan secured by the hotel has moved to special servicing several times since August 2022, when it originally matured, and has been extended at least three times, according to Morningstar.
Cash flow from the hotel was $4.7M at underwriting but in March 2026 was just under half that, at $2.2M. The appraisal of the property, $85M in 2018, had fallen to $59.5M in 2024.
The Sixty brand of hotels was founded by brothers Jason, Lawrence and Michael Pomeranc. They own Sixty hotels on New York City's Lower East Side and in Washington, D.C. Representatives for Sixty and the lender didn’t immediately respond to a request for comment.
Hotels up and down the state have weathered pressure from maturing debt and rising costs, causing a heightened number of distressed sales this year.
The Edition West Hollywood Hotel transferred in a deed-in-lieu-of-foreclosure sale in April to billionaire brothers Simon and David Reuben. There was $211M in debt on the hotel, according to The Real Deal. The 469-room Westin Long Beach sold in February for $42M in a distressed sale, less than half the $85M it sold for nine years ago.
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