Michael Rosenfeld Completes Nob Hill Triple as Woodbridge Capital Partners Acquires Stanford Court
- Dec 11, 2014
The San Francisco hospitality market recorded an important hotel acquisition, as real estate investor Michael Rosenfeld acquired the third hotel on Nob Hill. The investor’s Woodbridge Capital Partners recently completed the acquisition of Stanford Court Hotel. The new owner now holds all three hospitality properties on Nob Hill, including the 2012-purchased Fairmont San Francisco and the Mark Hopkins hotel back in February. Both acquisitions were carried out in partnership with Oaktree Capital Management.
Michael Rosenfeld’s San Francisco hospitality portfolio now totals 1,367 rooms in the Stanford Court, Mark Hopkins and Fairmont hotels.
“We continue to see San Francisco as an incredibly strong luxury hotel market with tremendous appeal for business travelers, conventions and leisure visitors.” Rosenfeld, the CEO of Woodbridge said, regarding the acquisition.
Located at 905 California Street, Stanford Court Hotel is a 393-key luxury property, that benefits from great placement, within walking distance from the city’s Financial District, Union Square and the South of Market tech hub. Nob Hill is also the only meeting point of the city’s three iconic cable car lines.
Management duties at the Stanford Court Hotel will continue to be handled by Highgate Holdings. The hotel sits on a site that formerly housed the mansion of Leland Stanford, the founder and president of the Central Pacific Railroad, who financed the founding of Stanford University. The property was part of an extensive renovation process completed back in 2008, when the owner invested approximately $33 million in an overhaul of the rooms and common areas.
Image courtesy of stanfordcourt.com