Masterworks, an affiliate of the Club Quarters membership-based hotel network founded in 1994, previously owned the four-hotel portfolio before selling it to a Blackstone real estate fund in 2016 ...

New York-based Masterworks Development, an affiliate of the Club Quarters operating hotel brand that used to own the hotels, bought the note for the company’s locations in San Francisco at 424 ...

The hotel portfolio had an appraised value of $360 million in October last year, compared to $444 million in late 2017. The value of the 123-year-old Club Quarters San Francisco rose to $160.8 ...