Piramco Buys Four Seasons Hotel Near SFO for $18 Million

Piramco has bought a Four Seasons hotel near the airport in South San Francisco for $17.7 million, 17 percent less than it sold for a decade ago.

The Kent, Wash.-based investor led by Nadeem Pirani purchased the 101-room Four Points by Sheraton Hotel & Suites San Francisco Airport at 264 South Airport Boulevard, the San Francisco Business Times reported, citing a regulatory filing.

The seller was Summit Hotel Properties, based in Austin, Texas. The deal works out to $175,247 per room. 

Summit bought the five-story hotel in 2014 for $21.25 million, or $210,396 per room.

The property, built in 2001 and revamped a decade ago, was assessed at $23 million last year. It contains an on-site restaurant and bar, Bistro 123, plus fitness and…