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8/11/26
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A two-hotel campus in Sunnyvale has been refinanced with a new loan for $105 mil. The loan is secured by the 186-key TETRA Hotel, Autograph Collection, and the 164-key AC Hotel by Marriott Sunnyvale Moffett Park, both institutional-quality properties that opened in 2022.
Located in the supply-constrained Moffett Park submarket in the heart of Silicon Valley, the hotels are proximate to leading technology companies and benefit from Marriott's globally recognized brands and industry-leading loyalty program. The properties are owned by K1 Dev, LLC, an entity controlled by T2 Hospitality, a vertically integrated hospitality real estate investment and development company.
The refinancing consists of a non-recourse bridge loan structured with a three-year initial term and two one-year extension options. The five-year loan was arranged by a Talonvest Capital team led by Jeff Miller, Kim Bishop, Will Hainlen, Carson Kurland and Lauren Maehler.
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