FREMONT, CALIF. — Ashford Hospitality Trust has acquired the 357-room Fremont Marriott Silicon Valley hotel for a reported $50 million. The hotel is located at 46100 Landing Parkway in the Silicon Valley submarket of Fremont.
The hotel also contains 15,000 square feet of meeting space spread throughout 19 flexible meeting rooms. It will be managed by Remington Lodging.
Cushman & Wakefield Global Hospitality served as the exclusive advisor to AIG. The team also served as exclusive advisor to AHT in arranging the $37.5-million financing for the hotel’s acquisition. The floating-rate loan was provided by a money center bank.
Daniel MacDonnell, James Escarzega and Steve Michels served as advisors to AIG in the sale. MacDonnell and Michels also served as advisors to AHT in the acquisition’s financing.