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SAN MATEO, CA-The San Mateo County Times reported that Tim Draper, a venture capitalist, has purchased the Benjamin Franklin Hotel for an undisclosed price. Draper did not disclose his plans for the nine-story hotel comprising 99 rooms.

According to a source, the hotel was sold for a price below $6 million. San Mateo Leaders were happy about the deal. The building has been vacant for nearly 10 years.For the full story, go to San Francisco Business Times.


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