>San Francisco Four Seasons averts foreclosure

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>The Four Seasons Hotel San Francisco has escaped looming foreclosure as owner Millennium Partners and a new equity partner have paid down a significant amount of the debt on the property.

Millennium and private equity group Westbrook Partners have paid down the mortgage on the Four Seasons San Francisco from $90 million to $55 million. Under the agreement Westbrook becomes two-thirds owner of the hotel while Millennium holds on to a one-third ownership interest in and continues to asset manage the hotel.

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