Cornerstone Holdings Acquires Four Points By Sheraton Hotel In San Rafael For $38M

The Four Points by Sheraton hotel in San Rafael, Marin County, has been sold for approximately $38 million. The buyer, Cornerstone Holdings, based in Denver, acquired the 127-room hotel, which generates an annual revenue of $4.7 million. This transaction stands out as one of the higher-priced deals in the Bay Area hospitality market.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $38,000,000
• Address: 1010 Northgate Drive - Four Points by Sheraton
• Market: San Rafael

Cornerstone Holdings, led by Tom McCloskey, represented the buyer in this deal. On the seller's side, San Rafael Hillcrest was represented by Beth Gamble. The hotel spans 133,000 square feet, with a price per square foot of $286. The transaction included 127 keys, resulting in a price per key of $299,213. The sale of the Four Points by Sheraton hotel adds to Cornerstone Holding's portfolio in the hospitality sector.