Braemar Hotels & Resorts Inc., an affiliate of Ashford Inc., said Wednesday it had entered into a definitive agreement to sell the 410-key The Clancy in San Francisco for $115 million, or $280,487 per key. The company has received a $3.5-million non-refundable earnest money deposit from the undisclosed buyer. The sale price represents a 5.0% cap rate on NOI for the trailing 12 months ended August 2025.
“We are strategically refining our portfolio with one clear objective: to maximize its value for our shareholders,” said Richard J. Stockton, president and CEO. “This divestiture will help us to ensure that a future sale of the company results in the best possible outcome for our investors.”
The property is part of Marriott’s Autograph collection. The sale is expected to close in November. However, Braemar said it would provide no assurances that the sale would be completed on these terms or at all.
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