trending Market Intelligence /marketintelligence/en/news-insights/trending/x53F64fpk36F6exlnaplQQ2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Carey Watermark Investors 2 pays $154M for San Jose, Calif., hotel

Commercial Real Estate: 2020 Review

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


Carey Watermark Investors 2 pays $154M for San Jose, Calif., hotel

Carey WatermarkInvestors 2 Inc. completed a $154 million acquisition of the San JoseMarriott hotel, in order to take advantage of the limited supply of institutional-qualityassets in the Silicon Valley market.

The transaction amount works out to $302,000 per key and thedeal was financed with $88 million of senior debt. The total investmentin the project, meanwhile, amounts to $159.8 million, including $5.8 million ofplanned CapEx and other acquisition-related costs.

Located in downtown San Jose, Calif., the 27-story hotel has510 guestrooms and it recently underwent a renovation. It also offers 23,000 squarefeet of meeting and event space, among other things.