The firm said this week that it has worked a deal for a $16 million fixed-rate loan for the Courtyard by Marriott, a 155-unit Milpitas hotel constructed in 1999. The hotel, which sits on a 3.7-acre parcel on Falcon Drive, is a little more than 80,000 sf.
The JNFE Milpitas TP LLC, a company related to GMAC Commercial Mortgage, has also arranged financing for a Milpitas hotel. It received a $13.6 million fixed-rate loan for the 82400-sf Marriott TownePlace Suites, which has 143 units on 3.2 acres. Both hotels offer amenities such as exercise facilities, meeting rooms and swimming pools.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
