### Mystery Buyer Nears Deal for $725M San Francisco Hotel Debt
A mystery buyer has reportedly agreed to purchase $725 million in debt tied to two of San Francisco’s largest hotels, according to the *San Francisco Business Times*. The properties in question are the 1,921-room Hilton San Francisco Union Square and the 1,024-room Parc 55 San Francisco, both of which have been under court-appointed receivership since late 2023 after their owner, Park Hotels & Resorts, relinquished control.
Eastdil Secured began marketing the debt for the interconnected properties in July 2024. At that time, the holdings were appraised at approximately $554 million by Kroll Bond Rating Agency—marking a significant drop of over $1 billion from their original appraised value when the debt was first issued.
While the *Business Times* reports that negotiations are ongoing and the deal has yet to be finalized, the transaction is facing a looming deadline. The receiver must complete the deal by March 31, or the debt will revert to lender JPMorgan, potentially leading to foreclosure proceedings.
