A historic San Francisco hotel with a delinquent real estate loan is a big step closer to landing a new owner.
SAN FRANCISCO — A historic hotel nestled atop ritzy Nob Hill in San Francisco that is burdened by a delinquent real estate loan is a crucial step closer to landing a new owner, public records indicate.
Highgate’s expertise includes working with lenders to take control of hotels that are in financial distress, such as the Huntington Hotel at 1075 California Street on Nob Hill. Deutsche Bank scheduled several auctions whereby it might seize the hotel through foreclosure of the loan or sell the property to an outside bidder. None of the auctions transpired, with the most recent public sale scheduled to occur on March 16.
Documents that sketched out Highgate’s assumption of the loan were filed on March 16 with the county Recorder’s Office.
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