SAN FRANCISCO, CA – Pebblebrook Hotel Trust has sold the 416-room, Kimpton Sir Francis Drake Hotel in San Francisco, CA for net proceeds of $157.6 million after customary closing costs.
The hotel sold to a third party on April 1, 2021.
Pebblebrook Hotel Trust originally acquired the Sir Francis Drake Hotel in 2010 for $90 million, as the company's second hotel. The property delivered significant gain on sale and an 11-year compounded internal rate of return of over 12% a year.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
