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Braemar Strikes Deal to Sell San Francisco’s Clancy Hotel for $115 Million

The divestiture advances a board-led review to maximize shareholder value.

Overview

  • Braemar signed a definitive agreement to sell the 410-room Autograph Collection hotel in San Francisco’s SoMa and received a $3.5 million non-refundable earnest deposit.
  • Closing is targeted for November 2025, with a buyer option to extend 30 days for an additional $1 million non-refundable deposit, and the company warns completion is not assured.
  • The agreed price equates to about $280,000 per key and reflects a 5.0% capitalization rate on trailing 12-month net operating income through August 2025.
  • Braemar disclosed unaudited trailing 12-month results for the property showing a $4.2 million net loss, $7.7 million in Hotel EBITDA, and $5.7 million in Hotel NOI.
  • The sale continues a portfolio streamlining effort that included August’s $145 million disposition of the iott SeatSeattle Waterfront during a Special Committee-led strategic process.