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7/17/18
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Broadreach Capital Partners, LLC has obtained $250 mil in capitalization for the development of Ameswell Mountain View, a fully entitled, mixed-use project comprising a 255-room upscale, independent hotel and a 216.7k sf Class A, LEED-Platinum office building in Mountain View.
The Ameswell Hotel will be one of Silicon Valley’s most prominently located, newly constructed independent lodging properties with modern luxury amenities and experiences. The hotel will feature creative, local design with a strong emphasis on art and technology; 6.3k sf of premier meeting and event space; imaginative food and beverage offerings, which include a destination bar and restaurant and curated grab-and-go market; spacious guestrooms; abundant outdoor gathering spaces with a swimming pool, fire pits, bocce ball court and a large lawn; and sustainable operating practices.
The steel-frame, five-story LEED-Platinum creative office building will have best-in-class construction featuring floor-to-ceiling glass lines that provide abundant natural light, 14-foot ceilings and 47k sf floorplates. Amenities include a 2.5-acre park, terraces and break-out areas to merge workspace and nature, dedicated bike and pedestrian trails and electric vehicle charging stations. A six-tier parking structure will support the development.
Ameswell is ideally positioned directly off Hwy 101 and Moffett Blvd in Mountain View and has access to Hwys 85 and 237 and I-280, which provide direct access to the entire Bay Area. The development is at the epicenter of Silicon Valley, surrounded by the largest technology companies in the world, venture capital and a highly educated workforce. Google, Amazon, Microsoft, Apple and Intuit are within a 2.5-mile radius of the project, and the Mountain View Baby Bullet Caltrain station is less than one mile from the property.
HFF’s Bruce Ganong, Michael Leggett, Ben Bullock, Thomas Foley, Austin White and Bercut Smith arranged the joint venture equity partnership with Rockwood Capital LLC. Additionally, the HFF team worked on behalf of the parties to secure the $140 mil construction financing with Wells Fargo Bank.
“Ameswell is one of the last fully entitled mixed-use development sites in Mountain View with prominent visibility from Highways 101 and 85,” Bullock said. “With a submarket vacancy rate of less than five percent for Class A office in Mountain View, Ameswell is poised to capitalize on the abundant tenant demand for new product.”
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