CIM Group Thursday said CIM-managed fund has provided a $67.5 million loan to The Roxborough Group and AWH Partners to acquire Hotel Villa Florence in San Francisco, California.
Hotel Villa Florence is a boutique hotel located at 225 Powell Street in Union Square in downtown San Francisco.
Originally built in 1908 and most recently renovated in 2018, the landmark hotel comprises 189 guest rooms and more than 10,000 square feet of ground floor retail space with prime frontage along Powell Street.
Hotel Villa Florence’s location is serviced by the historic cable car and Powell Street BART/Muni station and within walking distance to San Francisco’s Civic Center, Moscone Center, Financial District, and Chinatown.
CIM Real Estate Credit Strategies business recently closed a $120 million construction loan for a 26-story apartment and co-living development in Orlando.