HIGHGATE AND FLYNN PROPERTIES ACQUIRE THE HUNTINGTON HOTEL

Partnership Announces Plans to Revitalize the Iconic San Francisco Property

SAN FRANCISCO, March 20, 2023 /PRNewswire/ -- Highgate, a leading hotel management, investment and development company, and Flynn Properties, a San Francisco-based owner of luxury resorts, commercial real estate and select service hotel properties in America and abroad, today announced the acquisition of The Huntington Hotel. Located in San Francisco's Nob Hill neighborhood, the storied property has long been a nostalgic symbol of a bygone era, having originally been constructed in 1924 as the first steel and brick high rise west of the Mississippi.

Together, Highgate and Flynn Properties intend to restore and elevate every aspect of The Huntington Hotel to the very highest standard, returning it to its original glory while reestablishing it as the single finest luxury hotel in San Francisco.  In addition to a comprehensive renovation of its public areas and guest rooms, the beloved Big 4 Restaurant will undergo upgrades with a keen sensitivity to the charm cherished by local residents and out-of-town visitors alike. The award-winning Nob Hill Spa will be renovated to reflect the finest design details and offer the latest treatments and amenities available in the industry. Upon reopening, expected in 2025, The Huntington Hotel will again occupy its important place in the community – all while celebrating its rich history.

"I could not be more excited about the opportunity to bring the iconic Huntington Hotel back to its former glory and beyond," said Founder and Chief Executive Officer, Greg Flynn. "Being a San Francisco native and current resident, I am deeply committed to this city. The opportunity to contribute to its renaissance through investment in one of its true treasures is a privilege, and I am committed to making sure that it is done to perfection." He continued, "I am also excited to partner with Highgate. This is our second partnership with the firm, and they bring an invaluable wealth of experience and expertise to the project."

With the largest average room size and one of the highest suite mixes amongst all luxury hotels in San Francisco, The Huntington Hotel is ideally suited to become the top luxury hotel in the city. Furthermore, the property's superb location atop Nob Hill not only affords exquisite views in all directions as well as easy access to Union Square and the downtown business district, but it does so in the attractive backdrop of Grace Cathedral and the lovely Huntington Park.

San Francisco-based Flynn Properties has deep experience in redeveloping and owning luxury assets. Its holdings include the Carneros Resort & Spa and Solage, both located in California's Napa Valley; Esperanza and Chileno Bay, both located in Los Cabos, Mexico; and the Hotel Madeline in Telluride, Colorado.

With a more than 30-year track record as a global investment manager, operating partner and developer, Highgate brings deep experience owning, operating and redeveloping hotels in San Francisco, including the recent comprehensive renovation and rebranding of the Hyatt Regency SoMa in San Francisco's Arts District. Highgate has also recently completed the revitalization of several other historically significant luxury hotels in core urban markets, including the Newbury Boston, and the Knickerbocker Hotel and Park Lane Hotel in New York City.

"Highgate's philosophy has always been to pursue opportunities where we have a distinct ability to add value," said Arash Azarbarzin, Chief Executive Officer at Highgate. "Under our stewardship, The Huntington will reclaim its mantle as an indispensable component of the San Francisco community, through a revitalization project that will celebrate its heritage while making significant upgrades to meet the expectations of today's guests. We look forward to partnering with the associates, the community and Flynn Properties in achieving these objectives, and we are thrilled to make another significant investment in the San Francisco hotel market."

The Huntington Hotel is the latest addition to Highgate's growing luxury and lifestyle division, which includes over 7,500 keys with 2,100 keys under development.

About Flynn Properties Inc.
Flynn Properties Inc. has substantial experience investing in commercial and hospitality real estate. Founded in 1994 and based in San Francisco, CA, its commercial investments include in excess of 3 million square feet of tech-oriented office buildings on the West Coast. Its hospitality investments include 115 mostly Marriott and Hilton-branded select service hotels across 23 states, as well as the luxury resorts Esperanza and Chileno Bay, both located in Los Cabos, Mexico, the Carneros Resort and Solage, both located in the Napa Valley, and the Hotel Madeline in Telluride. Its affiliate, Flynn Restaurant Group LP, is the largest franchise restaurant operator in the world, owning and operating 2,400 restaurants in 44 states, generating $4.4 billion in sales, and directly employing approximately 73,000 people. For more information, visit: www.flynnholdings.com.  

About Highgate
Highgate is a leading real estate investment and hospitality management company with over $20 billion of assets under management. Highgate has a 30-year track record as an investment manager, operating partner, and developer for REITs, private equity firms, sovereign wealth funds, high net worth individuals, and other institutional investors. With a particular focus in hospitality real estate, Highgate's portfolio includes over 500 owned and/or managed hotels comprising over 84,000 rooms across the United States, Europe, Latin America, and the Caribbean. Highgate's capabilities extend to adjacent real estate verticals including multifamily, short-term rentals, and diversified healthcare real estate, as well as investments in real estate-linked securities, technology platforms, and hospitality-related operating businesses. Highgate maintains corporate offices in New York, Los Angeles, Dallas, Miami, Seattle, Waikiki and London. For more information, visit: www.highgate.com.

SOURCE Highgate