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5/13/26
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In a notable recent Bay Area financing deal, Independence Menlo Hotel Owner LLC has refinanced Hotel NIA in Menlo Park with new first mortgage debt of $110 mil. The non-recourse, floating rate, interim five-year loan was arranged by Sonnenblick-Eichner Company and funded by a private real estate credit investment manager.
Hotel NIA is an 11-story, 250-room, full-service luxury hotel branded as an Autograph Collection by Marriott. Located within the Menlo Gateway master-plan development, the hotel is less than one-mile from Meta Platforms corporate headquarters.
Completed in 2018, the hotel offers approximately 10k sf of indoor meeting and banquet space and 5,299 square feet of pre-function and outdoor event space. The hotel features the Porta Blu Restaurant & Bar, Verve Cafe, business and fitness centers, a market pantry and an outdoor swimming pool and Jacuzzi. The hotel offers 301 valet parking spaces comprised of 26 on-site and 275 spaces located in an adjacent parking structure.
“There continues to be a tremendous amount of capital in the market today for quality hospitality product. Due to Hotel NIA’s excellent location, the recovery of the Bay area market and strong institutional sponsorship, we were able to generate a significant amount of interest in this financing. The loan priced at a credit spread of less than 400 bps over SOFR,” said Sonnenblick-Eichner Principal David Sonnenblick.
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