Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Millennium Partners avoided foreclosure on its Four Seasons Hotel in San Francisco with the help of a capital infusion from Westbrook Partners and a restructuring of the hotel’s debt by the special servicer for the mortgage. The two companies, both based in New York City, are now joint venture partners in the hotel, with Westbrook taking a two-thirds ownership and Millennium Partners remaining as a one-third owner as well as asset manager for the property. Industry sources say that the JV has already paid down $35 million of the $90 million that Millennium owed on the hotel.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.