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California  + Hospitality  | 

Pebblebrook Divests San Francisco Hotel for $315M

Bethesda, MD-based Pebblebrook Hotel Trust sold the 681-room Park Central San Francisco hotel to Highgate Hotels LP. for $315.2 million. The South of Market district property at 50 Third St. is two blocks from Moscone Center, which is nearing completion of a $500-million expansion.

Park Central was built in 1983 as part of Yerba Buena Center’s redevelopment, and is the city’s sixth-largest by room count. The property has been flagged under various brands over the years. It was most-recently known as Westin Market Street until 2015, when LaSalle Hotel Properties picked it up for $350 million.

The Park Central sale follows Pebblebrook’s $5.2-billion acquisition of LaSalle last month. So far, it has divested five properties for $820 million, including the Park Central San Francisco, Park Central New York, WestHouse New York, Gild Hall in New York and Embassy Suites Philadelphia City Center. The company intends to sell additional hotels valued between $750 million to $1.25 billion in the next six to 12 months.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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