MASSIVE San Francisco Hotel Might Convert to Housing

San Francisco's largest hotel is hitting the auction block, and there's a chance that potential buyers might wanna turn it into apartments. The Hilton San Francisco Union Square and the Park 55 Hotel are being auctioned off as a pair after their owners, a Virginia-based REIT, stopped loan payments over a year ago, and the properties were surrendered to their lenders. This was huge news at the time because the hotels comprise about 3,000 rooms, which equate to about 10% of the city's overall hotel room stock. Now, obviously, we don't know who's ultimately going to buy the property. We don't know what their ultimate plans are gonna be or what's going to be approved, but the rumors are that at least one of the properties might be converted into apartments depending on who the buyer is. We'll see where the auction goes and what ends up happening. Let me know what you'd like to see in the comments. Bye.