SAN FRANCISCO-Bloomberg reported that Woodridge Capital Partners LLC has signed an agreement to purchase the Fairmont San Francisco, a 591-room hotel in San Francisco, for $200 million. Prince Alwaleed bin Talal and Maritz, Wolff & Co. are the current owners of the luxury hotel.
The current owners have decided to sell the property after they failed to gain approval to transform portion of the property into residences. Fairmont Hotels & Resorts will remain as the property manager. For the full story, go to San Francisco Business Times .
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