Fresh signs have emerged that hint at a wobbly Bay Area hotel market — including efforts to scout for one or more investors willing to take over a faltering loan for a lodging icon that’s perched atop San Francisco’s famed Nob Hill.
The primary financing vehicle for The Stanford Court Hotel is a “non-performing senior loan with a total outstanding balance of $108.2 million,” stated the marketing package that’s being circulated by Eastdil Secured, a commercial real estate firm.Huntington Hotel, a luxury historic hotel at 1075 California St. atop Nob Hill in San Francisco.
Deutsche Bank, the lender on the Huntington Hotel property, has scheduled and canceled multiple public auctions that could produce a new property owner or enable the bank to seize ownership of the 136-room lodging site. Hotel De Anza, a historic 100-room downtown San Jose hotel, was put up for sale in the fall of 2022. The sales price was $30 million, according to sources familiar with the effort to sell the 10-story hotel. A buyer wasn’t found and the hotel at 233 West Santa Clara Street in San Jose was taken off the market, the sources said.
Source: News Formal (newsformal.com)
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