An investment syndicate led by Los Angeles-based developer and investor David Gross and real estate icon, R. Donahue Peebles, are leading a bid to acquire the leasehold for the historic Viceroy Santa Monica, a luxury hotel located on Ocean Avenue in Downtown Santa Monica. Gross, the CEO of The Confluent Group, and Peebles, Chairman and CEO of The Peebles Corporation, are partnering with a prominent group of entertainers and entrepreneurs in their pursuit of the 162 room luxury, beach hotel.
The group of investors also includes:
Bracket VC, VC and Real Estate Investment Firm with offices in Los Angeles and Doha, Qatar
D3N9, Santa Monica based Private Equity and Real Estate Investment Firm
Luol Deng, National Basketball Association Player, Real Estate Investor and Philanthropist
Nipsey Hussle, Record Label Owner, Musician and Entrepreneur
DJ Khaled, Record Label Executive, Producer and Television Star
LaSalle Hotel Properties, leaseholders of the Viceroy Santa Monica, started shopping the property in early August 2017. This group led by Gross would likely be the most notable collective of names to express interest in the Viceroy.
Said Gross of the group’s bid, “The Viceroy is one of my favorite hotels in the Los Angeles area. It has an incredible location and an understated, cool vibe. My partners and I are uniquely capable of repositioning the property as the luxury, boutique hotel with the most dynamic hospitality experience in Santa Monica, and the Westside of LA generally.”
If Gross and team are able to secure the deal, the investment firm will make history by being the first minority led group to own a high-end hotel in the coveted Santa Monica area.
About David Gross
David Gross is the CEO of The Confluent Group, a private investment organization comprised of a portfolio of real estate holdings, public investments and private companies. Confluent’s investments are most heavily concentrated in real estate, hospitality and media. Adjacent to his role at Confluent, David is a strategic advisor to a targeted group of ultra- affluent entertainers, athletes and entrepreneurs.
Apart from his myriad responsibilities at The Confluent Group, David is the founder of Vector90, an inner city based coworking space and incubator. He is also on the board of SRVE, an on demand private chef service, and Saus, an app that redefines the mobile dating experience for women.
David attended Cornell University for his undergraduate studies, with concentrations in Economics and Government. He obtained an MBA in Quantitative Finance from New York University and a Master of Real Estate Development from Columbia University.
About R. Donahue Peebles
Recognized as one of the most successful entrepreneurs in the nation, R. Donahue Peebles is Founder, Chairman and CEO of The Peebles Corporation, one of the country’s few national privately held real estate investment and development companies with a multi-billion dollar portfolio of projects in New York, Washington D.C., Philadelphia, Boston, Miami and Miami Beach.
A partnership between The Peebles Corporation, Claridge Properties and Macfarlane Partners was recently approved to develop a $1.2 billion project in Downtown, Los Angeles. Current plans call for both SLS and Mondrian hotels, 250 condos, open space, shops and restaurants, and a charter elementary school. Upon completion, the 88-story skyscraper would be one of the tallest on the West Coast.
In addition to his role as CEO of The Peebles Corporation, Mr. Peebles is a top-selling author (The Peebles Principles and The Peebles Path to Real Estate Wealth), a regular guest on CNN, CNBC and FOX, and a highly sought-after speaker who has addressed educational, business and professional audiences across the United States.