Highgate & Flynn Acquire Distressed Nob Hill Hotel
The historic Huntington Hotel atop Nob Hill has been taken over by hotel company Highgate and real estate investment firm Flynn Properties according to public records. The two companies have acquired the property by assuming a $56 million delinquent loan provided to the previous owner in August 2022.
According to the Bay Area News Group, Highgate’s expertise includes working with lenders to take control of hotels in financial distress. The two companies intend to restore The Huntington Hotel, located at 1075 California Street, to “its original glory while reestablishing it as the single finest luxury hotel in San Francisco.”
The loan default on the 101-year-old, 12-story hotel is yet another indication that San Francisco real estate continues to struggle post-pandemic. The property has been shuttered in recent years, and likely won’t open until at least 2025, however, with new ownership, the Huntington Hotel seeks to make a statement when The City’s hospitality sector rebounds.