Yard by Marriott San Jose Campbell Hotel Secures $43.8 Million in Bridge Financing

JLL Capital Markets represented Huntington Hotel Group in protecting bridge funding for 162 essential hotel

JLL Capital Markets revealed today that it protected $43.8 million in bridge funding for the Courtyard by Marriott San Jose Campbell, the 162-key hotel situated in the heart of the Silicon Valley.

JLL represented the customer, an affiliate of Huntington Hotel Group, to protect a drifting rate loan through Prime Finance with a regard to as much as 5 years consisting of extensions. The JLL group has actually been included with the task considering that its beginning and set up construction-to-permanent funding for the hotel in 2008. Profits of the re-finance were utilized to retire that center, along with supply funds for the upcoming brand-mandated Property Improvement Plan (PIP).

The Courtyard San Jose Campbell uses a variety of facilities consisting of a large outside swimming pool, gym, bar and dining establishment, breakfast buffet and sufficient conference area. The home just recently went through a $2 million remodelling from 2017 to 2018, which changed the lobby into a modern area with guest-centric style and functions such as media pods, a lobby lounge, an outside patio area and a fire pit.

Silicon Valley, home to countless Fortune 1000 state-of-the-art corporations and start-ups, supplies a perfect setting for the Courtyard San Jose Campbell. Located at 655 Creekside Way, the hotel delights in close distance to market leaders like Apple, Intel and Google, all within a hassle-free twenty-minute drive.

Furthermore, with smooth access to significant highways consisting of Highway 17, 85, Interstates 280 & & 880 and United States 101, along with being simply a 10-minute drive to San Jose's International Airport (SJC), the residential or commercial property uses exceptional benefit for both company and leisure tourists.

The Courtyard by Marriott San Jose Campbell is easily situated less than 3 miles away from JLL's latest workplace situated in Santana Row in San Jose.

The JLL Debt Advisory group was led by Senior Managing Director Tim Wright, Director Olga Walsh and Analyst Jack Wood, in collaboration with the JLL Silicon Valley Capital Markets group.

“We are happy to have actually protected this refinancing on behalf of Huntington Hotel Group and anticipate the residential or commercial property's ongoing success,” stated Walsh. “This effective deal shows the strength and appearance of the Silicon Valley market, showcasing the self-confidence of lending institutions and financiers in its long-lasting capacity.”