Updated Oct 28, 2024
Summit Hotel Properties Sells San Francisco Hotel On Gateway Blvd For $75M
670 Gateway Boulevard, South San Francisco, California 94080, United States
$75,000,000
Building Size
—
Asset Type
Hotel
Closing
May 17, 2022
About this deal
AI
The hotel located at 670 Gateway Blvd. in San Francisco has been sold for a total of $75,000,000. The property, owned by Summit Hotel Properties in partnership with Jonathan P. Stanner and GIC, was a highly sought-after asset in the market. It features 169 keys and a price per key of $443,789.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $75,000,000
- Address: 670 Gateway Blvd.
- Market: San Francisco
- Keys: 169
- Price per Key: $443,789
The sale of the hotel was facilitated by Jonathan P. Stanner, representing Summit Hotel Properties, along with GIC. This transaction marks a significant milestone for both the buyers and sellers involved.
Players
South San Francisco Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93