The sale comes weeks after the owner sold another hotel on the same block for $77 million.
The largest owner of hotel properties inPebblebrook Hotel Trust is selling the 236-room Hotel Spero to an affiliate of Memphis-based real estate management firm Fairwood Capital LLC, thereported. News of the sale was found through a liquor license application.
The price of the sale isn’t yet public. Pebblebrook acquired Hotel Spero with its 2018 purchase of LaSalle Hotel Properties for $5.2 billion. LaSalle bought the hotel, then called the Hotel Californian, in 2013 for $69 million. Including Hotel Spero, Pebblebrook owns nine hotels in the city. This is the company’s second recent sale in San Francisco — more specifically, on the same block. The Marker hotel at 501 Geary St. was sold by Pebblebrook for $77 million to a Los Angeles real estate investment firm last month, theHotel Spero opened as the Hotel Californian in 1923.
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