Hotels Seek Alternative Construction Financing

Upon completion, the Park James Hotel will feature a craft kitchen restaurant concept.

MENLO PARK, CA—The Park James Hotel, a 61-key boutique hotel being developed by Pollock Realty Corporation, is expected to open in May 2018. A new first lien construction loan totaling $26 million has closed in order to finance the construction. The loan was financed by Dallas-based Hall Structured Finance.

“The Park James Hotel presented us with the opportunity to finance a high-quality luxury boutique hotel product that is in high demand in Menlo Park, minutes from Stanford University and the headquarters of some of the world’s most influential companies in neighboring Palo Alto,” said Mike Jaynes, president of Hall Structured Finance. “The hotel market in Menlo Park is currently very strong and we are confident that the Park James will be a great success when it opens next May.”