InterGroup Corporation And Portsmouth Square Secures $67 Million Refinance Loan For Hilton San Francisco

The property asset involved in this transaction is the Hilton San Francisco Financial District, located at 750 Kearny Street. This hotel comprises 544 keys and has a total square footage of 323,000. The property is situated in the San Francisco market.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $67,000,000
• Lender: Prime Finance
• Landlord: John V. Winfield & David Gonzalez - InterGroup Corporation; Portsmouth Square
• Broker: Eastdil Secured
• Loan Type: Refinance
• Loan Term: Two years with three one-year extension options
• Previous Mortgage Amount: $97,000,000

The transaction was orchestrated by Eastdil Secured, which arranged the financing for InterGroup Corporation and Portsmouth Square after they defaulted on a significantly larger mortgage. The loan secured was intended for refinancing the hotel property, facilitating the stabilization of their financial arrangements.