One of San Francisco’s historic hotels, nestled atop a luxury hilltop, has tumbled into a loan default that means the property faces foreclosure on its delinquent financing.
SAN FRANCISCO — One of San Francisco’s historic hotels, nestled atop a luxury hilltop, has tumbled into a loan default that means the property faces foreclosure on its delinquent financing, public documents show.
The financial woes and the mortgage delinquency are reminders that the outbreak of the coronavirus continues to afflict the lodging, travel, restaurant and leisure sector, sometimes in unexpected ways and places. In an odd twist, the amount of financing provided at the time of the purchase exceeded what the borrower, an affiliate of Woodbridge Capital, paid for the hotel tower, public filings show.
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