Lender-Owned Hotel Sold In San Jose, CA
Posted 11/5/2008 - 11:18:55 AM
| 
| 
| 
| 
| 
| 
| 
| 
| 
| 
What are these?
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
SAN JOSE, CA—Gramercy Capital Corp. has sold the 86-room Hotel Montgomery here to Khanna Enterprises for an undisclosed price. PKF Capital brokered the deal for the seller, which was the property’s lender and took over the asset.
In structuring the deal, PKF Capital had to work with issues involving the San Jose Redevelopment Agency, historic tax credits and separate hotel management and restaurant management companies.
Open since 1911, the Hotel Montgomery was renovated and seismically upgraded in 2004. It offers a full-service restaurant and meeting space.