CBRE Hotels Arranges the Sale of the Largest Entitled Hotel Project in San Francisco

San Francisco, California - January 21, 2014 - CBRE Hotels is pleased to announce the sale of a portion of the Block 1 Mission Bay site in San Francisco, California.

The 23,000-square-foot site is on Channel Street, between Third and Fourth Streets—a block from AT&T Park and near the upcoming UCSF hospital—and is part of the Mission Bay Redevelopment Plan.  Mission Bay and the adjacent South of Market (SOMA) district are two of San Francisco’s most rapidly growing neighborhoods.

Construction on the 15-story, 250-room hotel is slated to begin at the end of this year, with an anticipated opening in the fourth quarter of 2016. It will be the city's first full-service hotel project since 2008.

CBRE Hotels’ San Francisco team, Henry Bose and Mark McDermott, arranged the sale of the property on behalf of Strada Investment Group.  The buyer is affiliate of the Stanford Hotels Group, which owns and operates 13 hotels and has five properties under development in cities throughout the U.S.

CBRE Hotels is a specialized advisory group within CBRE providing brokerage, valuation and capital markets services to companies in the hotel sector. CBRE Hotels is comprised of over 150 dedicated hospitality professionals located in 37 offices across the globe. For more information, please visit our website at www.cbrehotels.com

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.