SAN FRANCISCO--(BUSINESS WIRE)--Real estate investor Michael Rosenfeld and his Woodridge Capital Partners today acquired the Stanford Court Hotel at 905 California Street atop Nob Hill in San Francisco. Rosenfeld’s entities now control all three Nob Hill hotels having purchased the Fairmont San Francisco in May 2012 and the Mark Hopkins in February 2014, both in partnership with Oaktree Capital Management.
With a combined 1,367 rooms, the Stanford Court, Mark Hopkins and Fairmont Hotels sit at one of the most prestigious locations in San Francisco with spectacular views of the city and Bay and within walking distance of the Financial District, Union Square and the South of Market tech hub. It is the only spot in San Francisco where the three cable car lines meet.
Michael Rosenfeld, CEO of Los Angeles-based Woodridge Capital Partners, commented, “We are honored to have the opportunity to continue to invest in San Francisco with its rich history. This is the perfect assemblage of three of the world’s finest hotels in an incomparable location. We continue to see San Francisco as an incredibly strong luxury hotel market with tremendous appeal for business travelers, conventions and leisure visitors.”
Perched atop Nob Hill at the corner of California Street and Powell Street, The Stanford Court Hotel features 393 luxury rooms including 31 suites with many rooms offering stunning city and water views at one of the most recognizable addresses in San Francisco. The hotel is operated by Highgate Holdings that will continue to provide management.
The Stanford Court Hotel is located on the site of railroad magnate Leland Stanford’s palatial mansion that burned in the fire following the 1906 earthquake. A colorful and significant figure in California history, Stanford moved to California in 1856 to capitalize on the Gold Rush as a merchant. He was a founder and president of the Central Pacific Railroad and later the Southern Pacific. He contributed what would be $1 billion today to found Stanford University in honor of his son who had died of typhoid. He also made important contributions as California governor for two years and then senator for eight years.
A $33 million renovation at the Stanford Court Hotel was completed in 2008 to update the rooms and common areas. Woodridge plans further renovations to the guest rooms and public spaces in the near future.
About Woodridge Capital Partners
Founded by Michael Rosenfeld, Woodridge Capital Partners, LLC (“Woodridge”) is a Los Angeles-based real estate investment and development company and, through its affiliates, is an owner and developer of a broad range of hotel, resort, residential, and commercial properties throughout the United States. Woodridge’s holdings include The Fairmont San Francisco and The Intercontinental Mark Hopkins in San Francisco, The Fairmont Orchid in Hawaii, The Hyatt Regency Century Plaza in Los Angeles and the Ritz Carlton Kapalua in Maui.