$230M L.A. hotel refinancing touted as market omen

The EDITION hotel on Los Angeles’ Sunset Strip has landed a $230 million refinancing loan from J.P. Morgan and Mack Real Estate Credit Strategies in what a financier termed a positive sign of the times. “Lenders and investors alike are fighting to deploy their capital in top-tier, leisure-focused lodging assets, which are positioned to capture an outsized share of the pent-up travel and local demand,” said Dustin Scolly of Newmark Group Inc., which arranged the package.