Keen-Summit Capital Partners LLC Awarded 2021 “Turnaround Atlas Restructuring of the Year Award” for Sale of L’Ermitage Beverly Hills Hotel

Keen-Summit Capital Partners LLC Awarded 2021 “Turnaround Atlas Restructuring of the Year Award” for Sale of L’Ermitage Beverly Hills Hotel


(New York, NY – June 28, 2021) – Keen-Summit Capital Partners LLC is pleased to announce that it has been awarded the 2021 Turnaround Atlas Hospitality & Real Estate Restructuring of the Year Award by the Global M&A Network for the sale of the L’Ermitage Beverly Hills Hotel.

The sale of L’Ermitage Beverly Hills Hotel was one of the largest hospitality transactions of 2020, selling via court-order for $100 million to New York-based EOS Investors LLC. The L’Ermitage Beverly Hills Hotel property was among the assets sold by the United States Government in an effort to recover illegally laundered funds from a major international money laundering scandal known as 1MDB, which allegedly involved the embezzlement of billions of dollars from the Malaysian development fund of the same name. The embezzled funds were used to buy expensive properties, a mega-yacht, paintings by Van Gogh and Monet, and finance the Hollywood movie “The Wolf of Wall Street.” The sprawling scandal has spurred law enforcement action in the United States, Singapore, Switzerland and Malaysia to trace the misappropriated funds through a complex web of financial institutions and shell companies.

“We are deeply honored to be recognized with this prestigious award for our firm’s outstanding work on a difficult project in the midst of the COVID pandemic,” said Matt Bordwin, Co-Principal and Co-Managing Director of Keen-Summit. “This was a rare opportunity for investors. Five-star hotels in Beverly Hills do not come on the market often and despite the world being on lockdown for Covid, we had an extraordinarily robust marketing process.” Harold Bordwin, fellow Co-Principal and Co-Managing Director added, “Even in light of the restrictions of the pandemic, we are delighted that we, along with our partners at Vedder Price, were able to successfully navigate and execute this deal during a year when the hospitality market was struggling significantly.”

L’Ermitage Beverly Hills Hotel, a 116-suite luxury hotel, underwent a $37 million renovation in 2016, following its acquisition in 2010 by an entity tied to Mr. Low. The United States District Court for the Central District of California, at the request of the United States Department of Justice, entered an Order authorizing the sale of the hotel. Michael M. Eidelman, Esq., Vedder Price P.C., as Special Master, engaged Keen-Summit to broker the sale. In May 2020, during the COVID quarantine, Keen-Summit initiated a robust marketing plan that leveraged its industry relationships and proprietary database. Keen-Summit fielded inquiries from over 1,000 prospects, nearly 800 of whom executed the non-disclosure agreement, and received over 50 written offers. The sale closed in October of 2020.

According to Global M&A Network, winning the independently-governed awards equate to achieving Gold Standard of Performance standing in the global restructuring, insolvency, and distressed investing industries. The winners are selected according to various stringent criteria and exhibited expertise.

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About Keen-Summit Capital Partners LLC

Keen-Summit Capital Partners LLC is a real estate brokerage, workout and investment banking firm specializing in special situations, restructurings, bankruptcies and receiverships, with offices in Manhattan and Melville, NY and Chicago IL. Keen-Summit Capital Partners LLC represents property owners, retail and commercial tenants, commercial and industrial businesses, investors, developers, and creditors across various industries. Clients benefit from its reputation for excellence and integrity, extraordinary industry experience, in-depth market knowledge, time-tested business approach, deep industry relationships, workout and bankruptcy expertise, and exceptional execution capabilities. For more information about Keen-Summit Capital Partners, call 646.381.9222 or visit


For Immediate Release

Media Contact: Jen Galluzzo

Harrison Edwards PR

(m) (845) 663-3566