News
CROWNE PLAZA SOLD
September 13, 2012
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| CBRE Hotels, acting as the adviser to The Carlyle Group, has arranged the sale of The Crowne Plaza San Francisco International Airport to an Asian buyer. The full-service, 10-story hotel (1177 Airport Blvd in Burlingame) is three miles south of SFO, making it a “tremendous asset to gain access” to the strong Bay Area lodging market, according to CBRE Hotels’ Henry Bose. Colleague Mark McDermott calls the deal a prime example of foreign capital’s continued appetite for well-located US real estate. (Two hours after acquiring a property, it wants to buy more.) The Crowne Plaza contains 309 rooms including 11 suites, an indoor swimming pool, fitness room, business center, and nearly 12k SF of meeting space. |
