$26M Loan Finances Construction of Menlo Park Hotel
Dallas-based HALL Structured Finance closed a new first lien construction loan totaling $26 million to finance the construction of the Park James Hotel in Menlo Park, CA. The 61-key boutique hotel is being developed by California-based Pollock Realty Corporation, and is expected to open in May 2018.
HALL Structured Finance’s Mike Jaynes says, “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.”
Upon completion, the Park James Hotel will feature a California craft kitchen restaurant concept, Oak + Violet, along with a lobby bar, a landscaped courtyard to accommodate outdoor meetings and events, as well as 1,200 square feet of indoor meeting space. Orange County-based Broughton Hotels, will manage the hotel.
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