Stockdale Capital Partners, a Los Angeles-based, vertically integrated real estate investment firm, has acquired The Marker hotel in San Francisco for $77 million from Pebblebrook Hotel Trust. The Marker, a 208-key hotel built in 1910, is close to Union Square and the Moscone Convention Center.
Stockdale plans to update and reposition the hotel while stabilizing the hotel operations as the San Francisco lodging market continues to recover.
“The Marker is Stockdale Capital Partners’ first San Francisco hotel acquisition, and we look forward to building upon its success as one of the city’s premier hotels,” said Bill Doak, Stockdale's managing director, hospitality. “Stockdale Capital Partners is continuing to capitalize on the travel and leisure sector’s recovery as we add to our hotel portfolio with properties throughout the country with a focus on the west and southwest regions.”
With a redesigned and renovated lobby and meeting and event spaces completed in 2018, The Marker’s Beaux-Arts design is meant to reflect San Francisco. The property pays homage to the film noir classic "The Maltese Falcon" (set in San Francisco’s Union Square neighborhood), by naming some of its meeting room spaces with key names and characters from the film, including Spade, Bogart, Falcon and Hammett. The Marker also has a restaurant and a 24-hour fitness facility.