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**Blackstone Acquires Four Seasons San Francisco in $130M Deal**
Blackstone has finalized the acquisition of the Four Seasons San Francisco, a 277-room luxury hotel located at 757 Market Street. While the official sale price was not disclosed, earlier reports from the Wall Street Journal indicated the deal was expected to close at approximately $130 million, or around $470,000 per key. This valuation represents a discount from the initial asking price when the property was listed by seller Westbrook Partners last year.
This purchase marks Blackstone’s first hotel investment in San Francisco in nearly a decade. The acquisition follows another major hospitality transaction in the city—the $408 million sale of the Hilton San Francisco Union Square and Parc 55 San Francisco to a joint venture between Newbond Holdings and Conversant Capital.
Commenting on the deal, Nadeem Meghji, Global Co-Head of Real Estate at Blackstone, shared on LinkedIn, “We’re huge believers in the San Francisco recovery, and if you want to invest in the AI revolution, owning high-quality San Francisco real estate is a great way to do it. The city is experiencing a surge in demand and office utilization, which we believe is supporting the strong rebound in travel and hospitality.”
The move underscores renewed confidence in San Francisco’s hospitality and commercial sectors, as the city continues to rebound from the disruptions caused by the COVID-19 pandemic.
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