California + Bay Area + Distressed Assets | March 22, 2023

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.

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About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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