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

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FINANCED
$67,000,000

California

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Hotel323,000 SF
Financed 04/02/2025
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FINANCED

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

750 Kearny Street

See Similar Deals
Hotel323,000 SF
Financed 04/02/2025
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Summary

CALIFORNIA
Asset Type:Hotel
Price Per Square Foot:$207
Total Square Footage:323,000 SF
Transaction Type:Loan

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.

Players

LENDER

David Gonzalez
2 deals$69.1M volume
LANDLORD

Details

FINANCED
IMAGE: John V. Winfield DATE: 04/02/2025 ADDRESS: 750 Kearny Street - Hilton San Francisco Financial District MARKET: San Francisco ASSET TYPE: Hotel ~ KEYS: 544 ~ SF: 323,000 LENDER: Prime Finance LANDLORD: John V. Winfield & David Gonzalez - InterGroup Corporation; Portsmouth Square BROKER: Eastdil Secured (@EastdilSecured) LOAN AMOUNT: $67,000,000 LOAN TYPE: Refinance NOTE: InterGroup Corporation and Portsmouth Square secured a $67 million loan from Prime Finance to refinance the 544-room Hilton San Francisco Financial District after defaulting on a $97 million mortgage. Eastdil Secured arranged the financing, which includes a two-year term with three one-year extension options. .Winfield

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$67,000,000.00

Monthly NOI$446,666.67
Monthly Debt Service$423,485.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00