 |
| Olga Wash |
SAN DIEGO, CA – JLL Capital Markets has secured $43.8 million in bridge financing for the Courtyard by Marriott San Jose Campbell, the 162-key hotel located in the heart of the Silicon Valley.
JLL represented the borrower, an
affiliate of Huntington Hotel Group, to secure a floating rate loan through
Prime Finance with a term of up to five years including extensions.
The JLL team has been involved with the
project since its inception and arranged construction-to-permanent financing
for the hotel in 2008. Proceeds of the refinance were used to retire that
facility, as well as provide funds for the upcoming brand-mandated Property
Improvement Plan (PIP).
The Courtyard San Jose Campbell offers
a range of amenities including a spacious outdoor pool, fitness center, bar and
restaurant, breakfast buffet and ample meeting space.
Tim Wright,
The property recently underwent a $2
million renovation from 2017 to 2018, which transformed the lobby into a
state-of-the-art space with guest-centric design and features such as media
pods, a lobby lounge, an outdoor patio and a fire pit.
Silicon Valley, home to thousands of Fortune 1000
high-tech corporations and startups, provides an ideal setting for the
Courtyard San Jose Campbell. Situated at 655 Creekside Way, the hotel enjoys
close proximity to industry leaders like Apple, Intel and Google, all within a
convenient twenty-minute drive.
Additionally, with seamless access to major highways including Highway
17, 85, Interstates 280 & 880 and US 101, as well as being just a 10-minute
drive to San Jose's International Airport (SJC), the property offers
unparalleled convenience for both business and leisure travelers.
Furthermore, the Courtyard by Marriott San Jose Campbell
is conveniently located less than 3 miles away from JLL's newest office located
in Santana Row in San Jose.
Jack Wood
The JLL Debt Advisory team was led by Senior Managing Director Tim Wright, Director Olga Wash and Analyst Jack Wood, in partnership with the JLL Silicon Valley Capital Markets group.
For more news, videos and research resources, please
visit JLL’s newsroom.
Jones Lang LaSalle Americas, Inc. ("JLL") is a
real estate broker licensed with the California Department of Real Estate,
license #01223413.
Contact:
Grace Lewis
huntingtonhotelgroup.com.
No comments:
Post a Comment