January 3, 2017 Comments Off on Carey Watermark Acquires Iconic Ritz-Carlton, San Francisco Views: 443 Bay Area, California News, West

Carey Watermark Acquires Iconic Ritz-Carlton, San Francisco

Carey Watermark Investors 2 Incorporated (CWI 2) acquired The Ritz-Carlton, San Francisco hotel from Annapolis, MD-based Thayer Lodging, Brookfield Hotel Properties for an undisclosed price.

More than $20 million of capital improvements have been completed since 2014 at the 336-room Nob Hill property, including the renovation of all guest rooms and comprehensive updates to the lobby, restaurant, meeting and event space, and spa. Two new retail outlets and a fitness center were also added during the renovation.

The REIT’s Michael Medzigian says, “As the highest-rated luxury property in a globally recognized destination, the acquisition of The Ritz-Carlton, San Francisco is a significant addition to the CWI 2 portfolio.”

The 18-column, Napoleon Le Brun & Sons-designed nine-story building spans Stockton St., and was originally developed in 1909. The neo-classical treasure holds San Francisco landmark status and, after an extensive four-year renovation, re-opened in 1991.

Read more at CWI 2

Connect With WI 2’s Medzigian

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For comments, questions or concerns, please contact Dennis Kaiser

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