IHG Reaps $120M In Sale of SF Hotel To Oaktree, Woodridge

Law360, New York (February 18, 2014, 1:37 PM EST) -- A joint venture of private equity firm Oaktree Capital Management LP and Woodridge Capital Partners LLC has struck a $120 million deal to purchase the San Francisco Mark Hopkins hotel from sale-focused Intercontinental Hotels Group PLC, the companies announced Tuesday.

Per the deal, IHG is also striking a long-term management contract to continue overseeing the property and the new owners have agreed to funnel about $20 million into renovating the hotel, according to a statement. For IHG, the sale of the iconic hotel that opened in...
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