Value Added by Interwest Capital
ICC purchased the nonperforming debt on the lease hold improvements in January of 2005. A friendly deed in lieu was completed in June of 2005 at which time new management was engaged and an extensive renovation undertaken. In October of 2011 Interwest acquired fee title to the land thus consolidating the two components into a fee simple asset. Following acquisition of the land long term debt was placed on the asset and a second tier renovation undertaken to capitalize on the assets unique positioning in the San Francisco Union Square sub market.
Address
191 Sutter Street, San Francisco, CA 94104
Size
177 Rooms plus ground floor retail
Acquisition Type
Non-Performing Debt Acquisition
Status
In Portfolio
Description
Built in 1911 the 110,000-square-foot hotel is located within 2 blocks of San Francisco’s Union Square shopping district and adjacent to the Financial District.
