LOS ANGELES—Stockdale Capital Partners, a vertically integrated real estate investment firm based here, has completed a refinancing of Aloft hotels in Silicon Valley and Tempe, AZ. The financing was secured through the Phoenix-based office of MidFirst Bank, an Oklahoma City-based portfolio lender. Terms of the financing were not disclosed.
The Aloft Silicon Valley in Newark, CA is a 172-room full service, all-suite Aloft Hotel acquired by an affiliate in December 2012. The owner completed a full renovation and conversion to the Aloft brand, reopening the hotel in March 2013. The hotel sits next to the 1.4 million sq. ft. Pacific Research Center, a major life science and technology campus owned by Biomed Realty.
The Aloft Tempe is a 136-room hotel developed by Stockdale and opened in 2009. The property is close to a 2 million-sq.-ft. regional campus currently in the final stage of development for State Farm Insurance and a few miles from the Arizona State University campus, downtown Tempe and Sky Harbor International Airport.