Talonvest Capital has closed a $105,000,000 refinancing for a two-hotel campus in Sunnyvale on behalf of K1 Dev, LLC, an entity controlled by T2 Hospitality. T2 Hospitality is described as a vertically integrated hospitality real estate investment and development company. The financing covers two adjacent hotels that operate as part of a single campus.
The refinanced assets include the 186-key TETRA Hotel, Autograph Collection, and the 164-key AC Hotel by Marriott Sunnyvale Moffett Park. Together, the two properties total 350 keys within the hospitality campus. Both hotels operate under well-known Marriott-affiliated flags, with TETRA positioned under the Autograph Collection brand and the second property operating as an AC Hotel by Marriott in the Moffett Park area of Sunnyvale.
The new capital stack is structured as a non-recourse bridge loan with a three-year initial term and two separate one-year extension options. According to Talonvest, the structure is designed to provide flexibility over a potential five-year period, assuming both extensions are exercised. The firm reports that the refinancing delivered favorable terms and substantial interest savings across the full potential loan term, though specific rate and lender details were not disclosed.
Talonvest Capital arranged and secured the refinancing on behalf of the sponsorship. Team members credited with executing the assignment include Jeff Miller, Kim Bishop, Will Hainlen, Carson Kurland, and Lauren Maehler. Their role encompassed structuring the non-recourse bridge loan and negotiating the final loan terms for K1 Dev, LLC and its controlling entity, T2 Hospitality.
Commenting on the transaction, Nayiri Madenlian, CFO of T2 Hospitality, characterized the collaboration with Talonvest Capital as an exceptional experience. She noted that the Talonvest team added meaningful value throughout each stage of the financing process and stated that the execution resulted in the best broker experience the company has had over many years of arranging financing.
The refinancing underscores the continued use of non-recourse bridge financing for institutional-quality hospitality properties and highlights T2 Hospitality’s ongoing engagement with capital markets intermediaries to optimize the capital structure of its hotel holdings. While specific loan proceeds uses were not detailed, the transaction centers on recapitalizing the two-hotel campus in Sunnyvale under improved interest terms.
