2 big hotels going to allow foreclosure
https://hotair.com/jazz-shaw/2023/06...ng-out-n556053
“The owner of two of San Francisco’s largest downtown hotels is stopping mortgage payments and going into foreclosure on the properties, stating that the city faces
“major challenges” and that reducing exposure to the market is in the best interest of investors.
Park Hotels & Resorts said Monday that it was stopping payment on a $725 million loan secured by the two hotels, the 1,921-room Hilton San Francisco Union Square and 1,024-room Parc 55.
The Hilton is San Francisco’s largest hotel, and Parc 55 is the fourth largest.”
The best State in the nation……..I’ve heard