Peachtree Group Provides $102.9M Refinance Loan For Sunnyvale Marriott Hotels

The loan transaction involves two neighboring Marriott-branded hotels in Sunnyvale, California. The properties are located at 1235 Bordeaux Drive - AC Hotel Sunnyvale Moffett Park and 400 West Java Drive - TETRA Hotel & Autograph Collection. The loan, amounting to $102,900,000, was provided by Greg Friedman from Peachtree Group. The landlord of the hotels is Mike Patel from T2 Hospitality. The loan is a refinance with a term of three years.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $102,900,000
• Keys: 350
• Lender: Greg Friedman - Peachtree Group
• Landlord: Mike Patel - T2 Hospitality
• Market: Sunnyvale

Peachtree Group, led by Greg Friedman, financed the two Marriott-branded hotels with its largest single loan to date. The company plans to deploy a similar amount this year, focusing on various property types like hotels, apartments, industrial spaces, and student housing, anticipating increased interest rates.