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Hotel Cosmo a Success Story!
14 April 2004
San Francisco, CA
CB Richard Ellis', (CBRE) Jeffrey Roe, First Vice President of CBRE's Hotels in their San Francisco office announces the sale of the Hotel Cosmo – San Francisco.The 144 room hotel closed escrow on Tuesday, October 12th. The seller was special servicer Lennar Partners and the buyer was San Diego based Vantaggio Suites. The hotel was shut down on the day of closing as the buyer is enthusiastically pursuing the immediate renovation and life safety improvements. The Hotel Cosmo was Bill Kimpton's first hotel from which the "boutique hotel" concept was developed. The Kimpton Group gave the hotel back to the lender earlier this year after several years of declining revenues mirroring the citywide trends in the post dot com era and 9/11.
Please click here for a Word document of the entire press release.
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