Newbond Holdings and Conversant Capital completed the acquisition of San Francisco Union Square and Parc 55 San Francisco businesses of Hilton for $408m.

Newbond Holdings, a real estate investment and operating platform focusing on hospitality and multifamily assets, and Conversant Capital, a private investment firm focused on real estate, digital infrastructure and hospitality sectors, completed the acquisition of San Francisco Union Square and Parc 55 San Francisco businesses of Hilton, an American multinational hospitality company for $408m. “The partnership with Newbond and Conversant marks an exciting new chapter for the Hilton San Francisco Union Square and Parc 55. We are proud to be a part of the revitalization of these iconic properties in San Francisco, one of the country’s great destinations, and are confident that once completed, these hotels will deliver the highest standards of hospitality to Hilton guests from all around the world," Chris Nassetta, Hilton President and CEO.