{"id":1004050388,"date":"2012-11-14T08:04:01","date_gmt":"2012-11-14T16:04:01","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=80595"},"modified":"2020-04-07T11:28:52","modified_gmt":"2020-04-07T19:28:52","slug":"last-hotel-in-larkspur-farallon-capital-portfolio-trades-hands-in-san-francisco","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/last-hotel-in-larkspur-farallon-capital-portfolio-trades-hands-in-san-francisco\/","title":{"rendered":"Last Hotel in Larkspur-Farallon Capital Portfolio Trades Hands in San Francisco"},"content":{"rendered":"<p>By Alex Girda, Associate Editor<\/p>\n<p>San Francisco\u2019s hot hospitality market <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/11\/hotel-union-square.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-80596\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/11\/hotel-union-square.jpg\" alt=\"\" width=\"198\" height=\"300\" \/><\/a>continues to heat up, as another hotel transaction joins an already packed roster of deals. It was recently reported that the last remaining property in the Larkspur portfolio was traded to a group of Canadian investors for a total of approximately $16.6 million. The Larkspur Hotel Union Square, the property in question, will now undergo a re-branding process that will see it return to its original identity\u2014the Cartwright Hotel.<\/p>\n<p>Located in San Francisco\u2019s downtown area at 524 Sutter St., the hotel is a 114-key, upscale boutique property that is the last of 11 properties Larkspur has sold in a short frame of time.<\/p>\n<p>The sale of the hotel marks the end of the portfolio that Larkspur Hotels owned in a joint venture with Farallon Capital Management. The property has had a troubled history, having fallen out of contract a number of times before its acquisition by Canadian investors. The transaction was arranged by Richard Ehmer of The Ehmer Group on behalf of the buyer and Eastdil Secured on the seller\u2019s behalf.<\/p>\n<p>The <em>San Francisco Business Times<\/em> reports that the buyer was intent on acquiring a downtown hotel for quite some time and mandated The Ehmer Group to that effect. A number of for-sale hospitality properties in the city include the Clift Hotel, Harbor Court, Holiday Inn at Fisherman\u2019s Wharf, Hotel Rex, Hotel Triton and Hotel Kabuki. However, the fact that Larkspur\u2019s property charged a per-room fee of $145,614 in a market that normally charges around $300,00 was too good a deal to be passed up.<\/p>\n<p>Image courtesy of <em>tripadvisor.com<\/em><\/p>\n<p>For more market data from San Francisco, <a href=\"https:\/\/www.multihousingnews.com\/news\/market-snapshot-tech-industry-shores-up-san-franciscos-prime-market-status\/1004065270.html\" target=\"_blank\" rel=\"nofollow\">click here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Alex Girda, Associate Editor San Francisco&rsquo;s hot hospitality market continues to heat up, as another hotel transaction joins an already packed roster of deals. It was recently reported that the last remaining property in the Larkspur portfolio was traded to a group of Canadian investors for a total of approximately $16.6 million. The Larkspur [&#8230;]<\/p>\n","protected":false},"author":1269,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1609],"tags":[1815],"class_list":["post-1004050388","post","type-post","status-publish","format-standard","hentry","category-latest","category-san-francisco","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Last Hotel in Larkspur-Farallon Capital Portfolio Trades Hands in San Francisco - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/last-hotel-in-larkspur-farallon-capital-portfolio-trades-hands-in-san-francisco\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Last Hotel in Larkspur-Farallon Capital Portfolio Trades Hands in San Francisco\" \/>\n<meta property=\"og:description\" content=\"By Alex Girda, Associate Editor San Francisco&rsquo;s hot hospitality market continues to heat up, as another hotel transaction joins an already packed roster of deals. It was recently reported that the last remaining property in the Larkspur portfolio was traded to a group of Canadian investors for a total of approximately $16.6 million. 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