Updated Oct 28, 2024
Northview Hotel Group Acquires Hotel In San Francisco For $157.6M
450 Powell St, San Francisco, CA, USA
$157,600,000
$6,653/SF
Building Size
23,687 SF
Asset Type
Hotel
Closing
May 6, 2021
About this deal
AI
A hotel property located at 450 Powell St. in San Francisco has been sold for a total amount of $157,600,000. The property, owned by Pebblebrook Hotel Trust and represented by Jon E. Bortz, was purchased by Northview Hotel Group, with Mark Mance as their representative. The hotel consists of 416 rooms, resulting in a price per room of approximately $378,846.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $157,600,000
- Address: 450 Powell St.
- Market: San Francisco
- Buyer: Northview Hotel Group - Mark Mance
- Seller: Pebblebrook Hotel Trust - Jon E. Bortz
- Rooms: 416
- Price per Room (PPR): $378,846
Mark Mance from Northview Hotel Group represented the buyer in this transaction, while Jon E. Bortz represented the seller, Pebblebrook Hotel Trust. The deal was finalized on 05/07/2021, marking the successful transfer of ownership for the hotel property on Powell St. in San Francisco.
Players
San Francisco Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
Loading comparables…
Deal FAQ
Visit Jon Bortz to view all their deals.
Browse California hotel sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93