22
Jul
Pebblebrook inks deal to sell another Union Square hotel for $87.5 million
San Francisco’s second-largest hotel owner, Pebblebrook Hotel Trust, has agreed to sell its 189-room Villa Florence San Francisco Union Square for $87.5 million, or $462,963 per key, to an undisclosed buyer.
The transaction will mark the second hotel unloaded this year by the Maryland-based real estate investment trust; it sold the 416-room Kimpton Sir Francis Drake Hotel in Union Square in February to Northview Hotel Group of Connecticut. The latest sale will reduce its portfolio here to 10 properties.
Pebblebrook…
Source: Arizona Business Journal
