Florida-based developer Westbrook Partners has been served a notice of default for a $72.5M loan backed by 222 Sansome Street, home of the Four Seasons San Francisco at the Embarcadero.
The hotel occupies the top 11 stories of a 48-story tower at 345 California Street, but is considered a separate property and uses the Sansome address.
Westbrook has not made its monthly payment on the loan since December and is behind nearly $3.2M in payments, according to the notice of default, which gives the borrower 90 days to become current, according to a report in the San Francisco Business Times.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
