SAN FRANCISCO–CBRE Hotels has closed the sale of the 101-room Four Points by Sheraton SFO located at 264 South Airport Blvd. Peninsular, Inc. sold the property to Summit Hotel Properties, Inc., for approximately $21.3 million, or over $210,000 per key.
Situated only 1.5 miles north of San Francisco International Airport, between the region's chief economic drivers of San Francisco, Silicon Valley, and South San Francisco's biotech community, the four-story hotel opened in 2001 and features completely renovated guest rooms, Bistro 1 2 3 and Martini Bar, fitness and business centers and ample surface/garage parking.
CBRE Hotels' San Francisco team, Henry Bose and Mark McDermott, arranged the sale of the asset on behalf of the seller.
CBRE Hotels is a specialized advisory group within CBRE Group, Inc. providing brokerage, valuation and capital markets services to companies in the hotel sector. CBRE Hotels is comprised of over 150 dedicated hospitality professionals located in 37 offices across the globe.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
