A big push is underway to inject fresh cash into a landmark San Jose hotel tower and brighten its financial picture.
SAN JOSE — One of the loans for a landmark hotel tower in downtown San Jose is up for sale, but wide-ranging efforts are underway to inject fresh cash into the lodging hub to brighten its financial picture.
The hotel tower could soon have a greatly different and improved financial structure, according to sources familiar with the commercial property market in the South Bay. The hotel’s current financing package totals about $165.3 million, consisting of a $136 million primary loan and the $29.3 million secondary loan that’s being floated for sale, according to the JLL marketing materials.
In recent years, the northern tower has been dramatically revamped. In 2022, the legendary Hilton chain began managing and operating the hotel.
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