InterGroup Corporation And Portsmouth Square Secures $67 Million Refinance Loan For Hilton San Francisco
California
See Similar DealsInterGroup Corporation And Portsmouth Square Secures $67 Million Refinance Loan For Hilton San Francisco
750 Kearny Street
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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.
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