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Talonvest Capital closes $105M refinancing for Sunnyvale hotel campus
The deal uses a non-recourse bridge loan with a three-year initial term and two one-year extension options, designed to cut interest costs over the full five-year period.
Talonvest Capital has closed a $105,000,000 refinancing for a two-hotel campus in Sunnyvale, California, arranged on behalf of K1 Dev, LLC, an entity controlled by T2 Hospitality, according to ConnectCRE.
The refinancing covers the 186-key TETRA Hotel, Autograph Collection and the 164-key AC Hotel by Marriott Sunnyvale Moffett Park.
The financing is structured as a non-recourse bridge loan with a three-year initial term plus two one-year extension options.
ConnectCRE said Talonvest secured favorable terms and substantial interest savings over the full five-year loan term, with Jeff Miller, Kim Bishop, Will Hainlen, Carson Kurland, and Lauren Maehler among the team members involved.