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The Ratkovich Company and the Sheraton Los Angeles Downtown Hotel at the Bloc Announce $45 Million Transformation

Thursday, June 19, 2014
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The Ratkovich Company, in partnership with National Real Estate Advisors and the Sheraton Los Angeles Downtown Hotel, today announced a $45 million transformation of the hotel as part of the massive development of The Bloc.

Over the next seven months, the hotel, which sits perfectly at the heart of the city’s financial, retail, sports and entertainment epicenter, will be completely renovated with a modern design inspired by downtown Los Angeles’ glamorous and elegant Art Deco architectural past.

“The transformation of the Sheraton Los Angeles Downtown Hotel is a critical component of the creation of The Bloc and the on-going growth and prosperity of downtown,” said Wayne Ratkovich, founder and president of The Ratkovich Company. “The Bloc will be a cornerstone destination for Angelenos and visitors, driving new jobs and opportunities for our city by creating a dynamic and curated place to shop, work, eat and stay.”

The hotel’s design concept plays on the city’s heritage of 1920’s glamour while incorporating the clean lines, eco-friendly concepts and materials, and casual luxury of today. The multi-million dollar metamorphosis will include all of the hotel’s 496 guestrooms and suites, the hotel’s lobby, and all of its ballrooms and meeting room spaces. The hotel’s outdoor spaces will be reimagined with lounge space, cabanas and a rock garden, allowing guests to enjoy the Southern California sun in comfort and style. The Sheraton Los Angeles Downtown Hotel’s restaurant menu and space will be redesigned to feature exclusive culinary concepts, all just a few steps away from The Bloc’s forthcoming collection of retail, restaurants and open spaces.

“We are excited to share the new design concepts for our reimagined hotel and look forward to welcoming our guests the moment they arrive,” said General Manager Jonathan Litvack. “The new guestrooms are the first step in a monumental rejuvenation that will transform not only the hotel, but also the district into the new centerpiece of Los Angeles.”

“Los Angeles is an ever-evolving city, and Sheraton is at the forefront of this expansive development project,” said Hoyt Harper, Global Brand Leader for Sheraton Hotels. “On the heels of a successful $6 billion revitalization of our brand, Sheraton is dedicated to leading development in key markets and refreshing landmark properties, like this one at The Bloc downtown.”

Guestrooms to Feature Lush, Modern Feel
Led by the award-winning New York City design company McCARTAN, the Sheraton Los Angeles Downtown Hotel’s new guestrooms will feature rich color palettes, graphic patterns, and clean lines resulting in a sophisticated and classic look. The rooms are anticipated to be completed in the second quarter of 2015 and will include Sheraton’s signature offerings and technological amenities geared toward the connected traveler:
· Sheraton Sweet Sleeper® bed, designed to meet AAA’s Five Diamond Award ® Criteria
· Distinctive, decorative lighting including power outlets at the base of all fixtures
· Completely renovated marble tile bathrooms
· Technologically-enabled guestrooms with high-speed Internet, an LCD flat panel television and an MP3 docking station
· State-of-the-art wireless radio frequency identification locks that allow for guests to bypass the front desk and check-in remotely
· Other features include an in-room safe, refrigerator and new carpeting

Club Guests to Enjoy New Luxe Looks and VIP Services Located on the hotel’s preferred floors, the newly renovated Sheraton Club guestrooms boast panoramic city views and complimentary access to the new Club Lounge. With a modern deco inspired design aesthetic similar to the guestrooms, the Club Lounge is a relaxing and luxurious space fit for any guest’s needs. Perks include complimentary breakfasts, hors d’oeuvres, and various beverage options. Business travelers are invited to use office supplies free of charge to complete any task on the go.

Located right on 7th Street, downtown’s Restaurant Row, and within walking distance of award-winning Los Angeles Convention Center, Staples Center and LA Live, the Sheraton Los Angeles Downtown Hotel currently has more than 26,000 square feet of multi-use event space, a lobby bar and extensive dining options.

For more information on Sheraton Hotels & Resorts, please visit www.sheraton.com or Facebook. Follow Sheraton on Twitter.

About The Bloc
A marquee property at the heart of downtown Los Angeles, upon completion, The Bloc will bring Angelenos together in a vibrant, open-air, pedestrian-friendly, urban center. Acquired by The Ratkovich Company in June 2013, The Bloc inhabits a full city block and is undergoing $180 million in renovations to provide a curated experience of unique boutiques, premier retailers and restaurants. Originally built in 1973 by architect Charles Luckman, the development will be the single largest mixed-use property in Los Angeles where consumers can work, sleep, shop and eat. It is anchored by Macy’s, the Sheraton Los Angeles Downtown Hotel, and a 750,000 square foot luxury office tower. The Bloc will be LEED certified and will be the first Delos WELL Building Project in Los Angeles. Construction began in the first quarter of 2014 and is anticipated to be completed by the third quarter of 2015. For more information, please visit www.theblocla.com or follow us at https://twitter.com/TheBlocLA.

About The Ratkovich Company
The Ratkovich Company is a Los Angeles development company that engages in both new development and the imaginative reuse of existing buildings. The company has completed, or has under development, nearly 18 million square feet of commercial space in Los Angeles County, including The Bloc, a 1.8 million square foot, mixed-use property at the heart of downtown Los Angeles that will become the premier urban retail, office and hospitality destination. The company has also redeveloped The Alhambra, a 45-acre mixed-use urban community in the city of Alhambra, and The Hercules Campus at Playa Vista, a landmark property comprised of 11 historic buildings, including the hangar where Howard Hughes’ legendary Spruce Goose was built. The Hercules Campus is home to YouTube, Konami and 72andSunny. The Ratkovich Company has won numerous awards for its restoration of Los Angeles landmarks, including the art deco Wiltern Theatre and adjacent Pellissier building; the iconic 31-story 5900 Wilshire in Miracle Mile; the Chapman Market and the city of Glendale's Alex Theatre. The James Oviatt and Fine Arts buildings were also both awarded national landmark status after successful renovations by The Ratkovich Company. For more information, visit http://www.ratkovich.com.

About National Real Estate Advisors
National Real Estate Advisors has $2 billion+ in assets under management for pension plan sponsors, investing in major U.S. urban markets using a build-to-core strategy. The company undertakes large-scale development and redevelopment projects in its open-end fund and separate account, building investment portfolios of stabilized modern property assets—apartment, office, mixed-use, industrial, data centers and hotels—with design features, technological enhancements, and amenities that can drive high tenant demand and create value over time. An SEC registered advisor, the firm is a subsidiary of the National Electrical Benefit Fund, a $12 billion pension plan sponsor. For more information visit, www.natadvisors.com.

About Sheraton Hotels & Resorts
Sheraton helps guests make connections at more than 400 hotels in nearly 70 countries around the world. The brand recently completed a $6 billion global revitalization and is now in the midst of an $8 billion global expansion over the next three years. Sheraton is owned by and is the largest and most global brand of Starwood Hotels & Resorts Worldwide, Inc., one of the leading hotel and leisure companies in the world with nearly 1,200 properties in 100 countries, and 181,400 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, Aloft®, and Element®. The Company boasts one of the industry’s leading loyalty programs, Starwood Preferred Guest (SPG), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood also owns Starwood Vacation Ownership, Inc., a premier provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands. For more information, please visit www.starwoodhotels.com.

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