Bank of China helps Loews acquire former Mandarin Oriental SF

The Commercial Observer is reporting that Bank of China has loaned $87 million to help finance Loews Hotels & Resorts’ acquisition of the former Mandarin Oriental San Francisco in the city’s Financial District, according to JLL, which arranged the financing on behalf of the borrower.

New York-based Loews Hotels & Resorts paid roughly $158 million for the 155-room hotel this spring. The Bank of China loan would then cover about 55 percent of the purchase. The terms of the debt were not immediately available.

JLL Senior Vice President Mike Huth, Managing Director John Manning and Executive Vice Presidents Kevin Davis and Alex Witt worked on the deal.

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Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.