Portsmouth Square subsidiary refinances Hilton SF hotel with $67M mortgage and $36.3M mezzanine loan

PORTSMOUTH SQUARE INC

Mortgage loan of $67M at SOFR + 4.80% with interest rate cap limiting Term SOFR to 4.50%.
Mezzanine loan of $36.3M at fixed 7.25% per annum.
Both loans have 2-year initial maturity with three 1-year extension options subject to conditions.
Loans are secured by the Hilton San Francisco Financial District hotel property.

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