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Two Multi-Residential Trophies Change Hands

SAN FRANCISCO-Through a note purchase from UBS Real Estate Securities, two limited partnerships acquire Park Lane and the Gaylord Hotel here.

By Natalie Dolce | Updated on June 13, 2011

SAN FRANCISCO-Two limited partnerships in which San Francisco real estate owner Russ Flynn has invested, have acquired two locally owned properties. The properties were acquired through a deed in lieu of foreclosure, after purchasing the defaulted notes from UBS Real Estate Securities Inc.

The acquirers were represented in the purchase of the notes by Dan McGue of Paragon Real Estate Group. Flynn is excited by these most recent acquisitions, according to a prepared statement, and points out that they are well positioned for the improving market.

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