| San Francisco, CA February 1999 Insignia/ESG
Hotel Partners has confirmed the sale of the 62-room boutique Abigail in
San Francisco for $3,500,000. The 62-room hotel was sold by a partnership;
the management company, Joie de Vivre Hospitality, has been retained as
manager of the hotel. The buyer, Sanjiv Kakkar, a Bay Area hotel
developer/owner, has plans for renovation in the near future. Insignia/ESG
Hotel Partners managing director Jeffrey Roe of the San Francisco office
represented the seller in this transaction.
The Abigail, 246 McAllister Street, has an English inn theme and houses
the award winning Millenium Restaurant. The hotel is in the heart
of San Francisco's revitalized Civic Center, across the street from the
new home of the Asian Art Museum (scheduled to open in 2001) and adjacent
to the University of California's Hasting College of Law.
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The Abigail Hotel is a sophisticated charmer
with a warm European spirit. Located in the heart of downtown San Francisco,
The Abigail Hotel is just minutes from the Civic Center and Union Square.
61 Guest Rooms, 1 one-bedroom suite Antiques, impressionistic
fabrics & down comforters. Complimentary Continental Breakfast. Concierge,
laundry & valet services. Milennium Restaurant features exotic healthful
cuisine in a lovely garden-like setting.
The Abigail Hotel is a Joie de Vivre select property. |
Insignia/ESG is one of the largest commercial real estate services providers
in the United States, with comprehensive brokerage, property management,
facilities management, consulting, investment sales and debt placement
operations in many of America's top markets. Insignia/ESG is a subsidiary
of Insignia Financial Group, Inc., a publicly traded real estate company
listed on the New York Stock Exchange under the symbol, IFS.
Insignia/ESG Hotel Partners is part of Insignia/ESG's Capital Advisors
Group, which focuses on investment sales and debt financing for major properties
of all types. Insignia/ESG Hotel Partners is a leading full service
real estate group for the hospitality industry, with brokerage, debt and
equity financing, advisory and asset management operations in offices worldwide.
Insignia/ESG Hotel Partners has nine offices in North America, including
Atlanta, Boston, Chicago, Dallas, Honolulu, Los Angeles, Miami, New York
and San Francisco. |
