JLL arranged the sale of the Sheraton Fisherman’s Wharf, located in San Francisco. Zurich-based ACRON AG purchased the 531-key property, representing the largest single-asset transaction in the city year-to-date. The hotel will maintain its affiliation with the Sheraton brand and be managed by Pyramid Hotel Group.
The Sheraton Fisherman’s Wharf occupies a full city block and has two food & beverage outlets, more than 11,300 square feet of indoor and outdoor function space, a heated outdoor swimming pool, private sun deck and a fitness center. The hotel is located within walking distance from Jefferson Street, Piers 39 and 41, Ghirardelli Square, North Beach and the Taylor & Bay Street cable car turnaround.
“The hotel has been well-maintained by ownership and is located in the heart of a high-profile, gateway market,” said John Strauss, managing director of JLL’s Hotels & Hospitality Group, who led the transaction. “As an iconic tourist destination, Fisherman’s Wharf is one of the best-performing hotel sub-markets in the United States.
“Due to limited new supply and strong demand fundamentals, hotel investors remain very bullish on San Francisco’s future,” Strauss said. “The city will remain a top investment target for domestic and international buyers in the foreseeable future.”
JLL’s Hotels & Hospitality Group completed more than $68 billion in transactions over the last five years worldwide. Between negotiating property deals, the group’s 350-person global team also closed more than 4,400 advisory, valuation and asset management assignments.