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Press release: ACRON closes purchase of Sheraton Fisherman's Wharf Hotel

  • Reputable US hospitality project in unique location
  • Top tourist destination Fisherman's Wharf in San Francisco
  • Long-term agreement with Sheraton and hotel management Zurich, December 01, 2016 - On

Zurich, – On November 30, ACRON, a specialist in real estate investment, successfully completed the purchase of Sheraton Fisherman's Wharf Hotel in San Francisco, California. The total investment volume is in the multi-fold, three-digit million range (USD), making it the largest single investment for ACRON Group to date.

The hotel will maintain its affiliation with the "Sheraton" brand on the basis of a 20-year contract and will be managed by Pyramid Group.

Fisherman's Wharf is one of the main attractions in San Francisco and offers 12 million visitors a year many points of interests. Tourists love the magnificent view at Alcatraz and the Golden Gate Bridge and enjoy plenty seafood restaurants, museums and entertainment facilities.

Following a substantial renovation the Sheraton Fisherman's Wharf Hotel will be the most attractive 4-star hotel in San Francisco. With 531 rooms, various conference and event facilities, etc., it will be a main spot in Fisherman's Wharf and attracting many tourists and congress visitors. With two completely new designed Food & Beverage outlets, significant additional revenues will be generated.

This reputable hospitality investment opportunity for investors underlines ACRONs more than 30 years of expertise in the US real estate market and the ability to provide customized investment vehicles with solid returns for qualified investors.

About ACRON

ACRON is a management company for real estate investment, which was founded in 1981 in Düsseldorf, Germany. Each real estate investment designed by ACRON is based on a single asset structure for investments in Switzerland, Austria, Germany and the USA. One focus is on hotel real estate investments, which account for 40 percent of the current investments of the ACRON Group. The transaction volume of the company amounted to over 1.5 billion CHF by the middle of October 2016. Clients of ACRON are private individuals and families from all over the world. The ACRON Group is headquartered in Zurich (CH) and has subsidiaries in Luxemburg (LU), Düsseldorf (D), Dallas (US) und São Paulo (BR).

Contact:

Kai Bender
ACRON AG
kai.benderacronch
Phone: +41 – 44 – 204 34 00

Michael Teperski
ACRON AG
michael.teperskiacronch
Phone: +41 – 44 – 204 34 04


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