### Mystery Buyer Nears Deal for $725M San Francisco Hotel Debt
A mystery buyer has reportedly agreed to acquire $725 million in debt tied to two of San Francisco’s largest hotels, according to the *San Francisco Business Times*. The properties in question—the 1,921-room Hilton San Francisco Union Square and the 1,024-room Parc 55 San Francisco—have been under court-appointed receivership since fall 2023, following Park Hotels & Resorts’ decision to return the keys.
Eastdil Secured initiated marketing efforts for the debt on these interconnected properties in July 2024. At that time, Kroll Bond Rating Agency appraised the hotels at approximately $554 million, a steep decline of over $1 billion from their valuation when the debt was originally issued.
According to the *Business Times*, the terms of the sale are still being negotiated, and the deal has not yet been finalized. A deadline of March 31 has been set for the receiver to complete the transaction; otherwise, the debt will revert to lender JPMorgan, potentially leading to foreclosure.
