Laurel Park Commerce is a first class business park located in the heart of the South Bay submarket of Los Angeles. It caters to a diverse base of tenants ranging from biotech, manufacturing, and industrial services.
PRG acquired the distressed property in 2011 via a short-sale transaction with the seller and lender at an approximate 50% discount to the outstanding loan balance. The execution of our property improvement and lease-up plan was completed ahead of schedule.
PRG sold the business park in 2019 at a price that reflected the highest price per square foot at the time for a comparable business park in the South Bay submarket of Los Angeles.
Holiday House is one of the premier boutique hotels in Palm Springs, California. The property is located in downtown Palm Springs and features a full service restaurant. Holiday House was named to the Condé Nast “Hot List” in 2018, making it one of the top new hotel openings in the world. It has been featured in Travel + Leisure, Architectural Digest, and Vogue.
Holiday House was purchased in 2016 in an off-market transaction. Originally opened in 1951, the hotel was designed by noted architect Herbert W. Burns. In the Spring of 2017, the hotel was reimagined in collaboration with award-winning interior designer Mark D. Sikes. It remains one of the top boutique hotels in California.
Casa Laguna is a castle-like seaside enclave of historical buildings that dates back to the early 1900s, nestled in the heart of Laguna Beach, California. The hotel was nominated to the Condé Nast “Hot List” in 2017 as well the prestigious Condé Nast “Reader’s Choice” Award in the same year.
After acquiring Casa Laguna in 2014. PRG partnered with interior designer Martyn Lawrence Bullard to make it one of the area’s first upscale boutique hotels. In 2017, the hotel was relaunched with a complete redesign, new operating platform, and identity. Today, it remains one of the top boutique hotels in Southern California.
The Sands Hotel & Spa is an exotic, luxurious and personalized take on hospitality. The property features a Moroccan and mid-century theme throughout its 46 guest rooms, full-service restaurant and bar, spa and private wedding garden. PRG partnered with Architectural Digest “Top 100” designer, Martyn Lawrence Bullard to reimagine the Sands.
The Sands has been featured in everything from the New York Times to Vogue, and was named to the Condé Nast “Hot List” in 2019, which is reserved for the top new hotel openings in the world.
Originally purchased in 2013 at a favorable basis, the Sands involved a very complicated title restructuring process which took several years to work out. The hotel was conceived to be the first luxury boutique hotel in the down valley region of the Coachella Valley.