Friday May 7th, 2010 - 7:26AM
SAN FRANCISCO—Nob Hill Properties, Inc. has put three San Francisco Bay-area hotels up for sale. Holliday Fenoglio Fowler, LP is marketing the three iconic assets.
The properties include the Huntington Hotel and the Galleria Park Hotel in San Francisco and the La Playa Hotel and Cottages-by-the-sea in Carmel-by-the-sea, CA. Nob Hill holds a fee interest in the Huntington and La Playa hotels and a leased-fee interest in the land beneath the Galleria. Consequently, Nob Hill is only selling its leased-fee interest as a ground lessor in the land beneath the Galleria.
According to HFF, the assets have not been put up for sale for more than 50 years and two of three are unencumbered by management and a flag.
The 12-story, 140-room Huntington Hotel was built in 1924 atop Nob Hill and has been significantly renovated throughout its time. It has never been up for sale previously.
The La Playa Hotel has 75 rooms plus six stand-alone cottages. The property is being sold unencumbered by management.