The firm said this week that it has worked a deal for a $16 million fixed-rate loan for the Courtyard by Marriott, a 155-unit Milpitas hotel constructed in 1999. The hotel, which sits on a 3.7-acre parcel on Falcon Drive, is a little more than 80,000 sf.
The JNFE Milpitas TP LLC, a company related to GMAC Commercial Mortgage, has also arranged financing for a Milpitas hotel. It received a $13.6 million fixed-rate loan for the 82400-sf Marriott TownePlace Suites, which has 143 units on 3.2 acres. Both hotels offer amenities such as exercise facilities, meeting rooms and swimming pools.
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