BETHESDA, Md. and SAN FRANCISCO
LaSalle Hotel Properties announced it acquired the Harbor Court Hotel and Hotel Triton, both located in San Francisco, CA for $47.8 million. The Company funded the transaction with borrowings from its Senior Unsecured Credit Facility.
Harbor Court Hotel
The 131-room, Harbor Court Hotel is located at 165 Steuart Street in San Francisco's financial district on the Embarcadero near the San Francisco Bay. The hotel is proximate to many downtown attractions including the Ferry Building, Embarcadero Center, AT&T Park and the Moscone Convention Center. Originally built in 1926, the building was extensively renovated and converted in 1991 to the Harbor Court Hotel.
The Harbor Court Hotel houses the 230-seat, upscale, contemporary Japanese Restaurant "Ozumo," which is leased to a third-party restaurateur and open for lunch and dinner. Ozumo was created in May 2001.
Hotel Triton
Hotel Triton is a 140-room hotel located at 342 Grant Avenue in the Union Square neighborhood of San Francisco. The hotel is close to the Financial District, less than a mile away from Moscone Convention Center and sits at the gateway to Chinatown. The building was originally constructed in 1912 and was converted to a hotel in 1991. In 2012, the property completed a guestroom renovation.
Both hotels will continue to be operated by Kimpton Hotels and Restaurants, which is headquartered in San Francisco, CA. Harbor Court Hotel and Hotel Triton are subject to building leases, both of which expire in approximately 34 years.
