About

WHISKY HOTEL

Whisky Hotel is a seven-story 132 room boutique hotel located in the heart of Hollywood, California on the cross streets of Hollywood Boulevard and Wilcox Avenue. The project will have a whisky themed lobby bar and restaurant and a rooftop lounge and bar.

The project is owned by world renowned Argentine-American restaurateur and real estate investor/developer, Adolfo Suaya. The project has already been fully funded. Senior construction lender is Bank Hapoalim, B.M. and the remaining funds were funded by the Owner.

Construction has already commenced in 2020 and is expected to be completed by early 2022. The project will create over 778 jobs allowing for a 455% job buffer. The EB-5 Funds will be used for repayment of equity bridge financing spent on qualified EB-5 expenditures and for project shortfalls.

Whisky Hotel in Hollywood

PROJECT HIGHLIGHTS

1
Adolfo Suaya, known as a celebrity in the F&B/Entertainment Industry, is an Argentine-American real estate investor, restaurateur, hotelier, and television host.
2
Owner personally guarantees repayment of EB-5 investor funds.
3
Project pledges 100% of membership interest to the EB-5 NCE.
4
Refinitiv, which is owned by Blackstone and Thomson Reuters, provided a third party independent due diligence report on the Owner and Company looking into the financial, legal, and personal background for any potential red flags.
5
Refinitiv provided a personal asset review report.
6
EB-5 compliance due diligence report from an Independent Attorney to ensure that the project and all documents comply with EB-5 regulations.
7
EB-5 is a small portion of the capital stack making only 22%. Project does not rely on EB-5 Funds as the project is already fully capitalized.
8
Senior Bank loan closed, which means the bank cleared and approved the Owner, Project, Construction Budget, Schedule, and viability of the project.
9
Project already in construction and is expected to complete early 2022.
10
Construction Manager entered a Guaranteed Maximum Price contract, which means the project is guaranteed to be completed within a certain price.
11
Owner has entered a completion guaranty to complete the Hotel.
12
Location – Project is located directly in the heart of Hollywood off Hollywood Boulevard and Wilcox Ave, which is off major tourist attractions and the night scene.
13
CBRE appraisal value of $78.1 million provides a 40% buffer to repay all funds.
14
High chance of repayment because repayment will occur similar time as the two world events hosted in Los Angeles, 2026 World Cup and the 2028 Olympics, which will increase tourism and hotel occupancy. This will increase revenue and will make the project more viable for refinancing or even a potential sale at peak market.
15
The project will create over 778 jobs, which is 5x’s more than the needed jobs to fulfill all EB-5 investors. EB-5 investors will rely on up to 140 jobs.
16
IMM US Capital Management is an independent manager to communicate and act in the investors best interest and has engaged with NES Financial, largest fund administrator for EB-5, to provide fund accounting and administrative solutions, which will allow investors to access their own personal documents via individual Login and ID.
Get Inspired by Whisky Hotel's

PHOTO GALLERY

International

PRESS RELEASES

In the Heart of Hollywood

Project location

Nearby Remarkable Places

MEET USCIS REQUIREMENTS ABOUT TEA LOCATION

Census:
Tract 1902.01
TEA:
Qualified for $900,000 Investment

July 4th, 2020 Impact DataSource provided an analysis qualifying the site as high unemployment TEA using the most recent labor force data from ACS.
Project site unemployment rate is 14.6.%, which exceeds the required threshold of 8.9%.

JOB CREATION

The Whisky Hotel project created enough jobs that meets the requirements of USCIS
  • Total Jobs: 778.3
  • Total Max Jobs Needed: 140
  • Job Buffer: 455%
  • Jobs per investor: 55.5

Jobs used will ONLY rely on Construction.
Jobs used will ONLY rely on Indirect and Induced Jobs.

Unemployment Estimates for Selected Census Tract(s)
Based on ACS 14-18
Census Tract Civilian Labor Force Employed Unemployed UE Rate
Census 1,455 1,243 212 14.6%
Total 1,455 1,243 212 14.6%
Key Milestones

PROJECT TIMELINE

  • 2015
    Land Acquired
  • 2017 – 2018
    Los Angeles Planning Commission issues Determination Letter and the Project receives entitlement
  • 2017 – 2018

    Construction STARTED

    2 YEAR Completion date

    Project started Construction – grading and shoring

    Project timeline: Project started Construction - grading and shoring

    Project is expected to complete construction

    Project timeline: Project is expected to complete construction

    2026 – 2028

    GUARANTEED Maximum Price PROJECT COMPLETION

    Project will utilize 2 Major world events hosted in Los Angeles to sell or refinance the project at year 6 to year 8:

    • 2026 World Cup
    • 2028 Olympics

    Project timeline: 2 Major world events hosted in Los Angeles

Project

CAPITALIZATION

TOTAL CAPITALIZATION $56.75 MILLION

  • Owners Equity: $21.75 million
  • Bank Loan: $35 million

EB-5 Funds “The EB-5 Funds will be used for repayment of equity bridge financing spent on qualified EB-5 expenditures and for project shortfalls”

Total EB-5 capitalization of Whisky Hotel project

EB-5 FUNDS

The EB-5 investment to be used for repayment of equity bridge financing spent on qualified EB-5 expenditures and for project shortfalls.

REPAYMENT OF FUNDS

  • Repayment expected between 2026 to 2028.
  • Project will repay the EB-5 investors from either a sale or refinance of the property.
  • Two major events that will increase revenue to help refinance or sell the project:
    • 2026 FIFA World Cup hosted in Los Angeles
    • 2028 Olympics hosted in Los Angeles
  • These world events will increase tourism and revenues that will provide attraction from Lender’s and potential buyers

Events increasing revenue for Whisky Hotel

SECURITY / COLLATERAL

  • Project will pledge 100% of the membership interest to the EB-5 Investors.
  • Owner has agreed to enter a guarantee of repayment agreement.

Photo

PROJECT PROGRESS