EOS Hospitality Credit Partners has provided a $105 million mortgage loan to owner and developer T2 Hospitality, secured by the 350-room TETRA/AC Moffett Park hotel campus in Sunnyvale, Calif.
The financing represents the second loan closing for EOS Hospitality Credit Partners, the hospitality lending business of New York-based EOS Investors. The campus includes the 186-room Hotel TETRA, Autograph Collection, and the 164-room AC Hotel Sunnyvale Moffett Park. The hotels opened in 2022 and are managed by Grapevine, Texas-based Coury Hospitality.
The three-year loan includes two one-year extension options, with proceeds being used to refinance existing debt. The properties are located in the Moffett Park submarket of Silicon Valley. T2 Hospitality—a Newport Beach, Calif.-based hotel owner and developer—developed the campus. Hotel TETRA received Marriott's Autograph Collection Opening of the Year award.
“This financing brings together an experienced and capable sponsor, strong property-level management, high-quality differentiated real estate and a market with favorable supply and demand characteristics,” Christopher Jordan, co-founder and CEO of EOS Hospitality Credit Partners, said in a statement. “We are pleased to partner with T2 Hospitality and Coury Hospitality and look forward to building a long-term lending relationship with this team.”