Fairmont Hotel in San Francisco to Be Purchased for $200 Million

Maritz, Wolff & Co. and Saudi billionaire Prince Alwaleed bin Talal agreed to sell the Fairmont San Francisco hotel after failing to win permission to convert part of the property into residences.

Woodridge Capital Partners LLC, a Los Angeles-based real estate developer and investor, will pay about $200 million for the hotel, said Heather Turner, vice president of acquisitions at Maritz Wolff. Woodridge will work with Howard Marks’s Oaktree Capital Management LP, also based in Los Angeles, on the purchase, she said in an interview. Fairmont Hotels & Resorts will remain the property’s manager.