LOS ANGELES, CA – December 3, 2025 – Jeffer Mangels Butler & Mitchell LLP (JMBM) recently helped guide the more than $500 million sale of two of San Francisco’s largest hotels from receivership. The Hilton San Francisco Union Square and Parc 55 San Francisco – A Hilton Hotel have been held in receivership since 2023, when the prior owner, Park Hotels, defaulted on a commercial-mortgage backed securities loan.
The court appointed a receiver to oversee these assets, with the receiver filing for court approval to sell the properties in August. Newbond Holdings and Conversant Capital completed the acquisition of the assets in November, which together represent 10 percent of the city’s hotel inventory. The transaction is the largest hotel sale (by total dollars) in California in 2025.
David Sudeck, partner and Co-Chair of JMBM’s Global Hospitality Group®, and JMBM partner Jeff Myers, represented the receiver in this matter.
About the Global Hospitality Group®
JMBM’s Global Hospitality Group® is the premier hospitality practice in a full-service law firm and the most experienced legal and advisory team in the industry. This team of seasoned hotel lawyers has helped clients with more than 4,700 hospitality properties located around the globe valued at more than $125 billion, providing one of the most extensive virtual databases of market terms for deals and financings.
About JMBM
Jeffer Mangels Butler & Mitchell LLP is a full-service law firm committed to achieving outstanding results for clients. With offices in Los Angeles, San Francisco, and Orange County, JMBM serves clients worldwide across a broad range of transactional, litigation, and regulatory matters. For more information, visit www.jmbm.com.