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December 6, 2010

Aspen, AEW Acquire San Franciscan Hotels

Aspen Hotel Management Group, in partnership with AEW Capital Management (AEW), is to acquire a portfolio of three boutique hotels in San Francisco, US, for an undisclosed sum. The hotels are Hotel Frank, Hotel Metropolis and Hotel Vertigo. AEW acquired the assets on behalf

By cms admin

Aspen Hotel Management Group, in partnership with AEW Capital Management (AEW), is to acquire a portfolio of three boutique hotels in San Francisco, US, for an undisclosed sum.

The hotels are Hotel Frank, Hotel Metropolis and Hotel Vertigo.

AEW acquired the assets on behalf of AEW Partners, the sixth of a series of real estate opportunity funds managed by AEW.

“We are thrilled to partner with a world-class organisation like AEW as we re-enter the San Francisco market,” said Aspen president Bashar Wali.

Aspen’s hotel project group will manage the new acquisitions and will rebrand and reposition the hotels.

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