Madison Realty Capital, working with Newbond Holdings, has closed on a $110 million financing for Ensemble Investments to refinance and fund closing costs for the Hotel Nia, an operating 250-key full-service hotel in Menlo Park, Calif.
The hotel is part of Marriott's Autograph Collection and is the only full-service hotel within the Menlo Gateway campus, providing direct corridor access to San Francisco and San Jose and immediate adjacency to Snowflake’s Bay Area headquarters and Meta Platforms’ corporate campus.
“Hotel Nia is a high-quality, cash-flowing asset with institutional sponsorship, proven brand affiliation and a growth narrative underpinned by some of the most durable market fundamentals in the country,” Josh Zegen, co-founder and managing principal at Madison Realty Capital, said in a statement. “Silicon Valley's return-to-office convergence, combined with constrained new supply and the proximity of major corporate and institutional demand generators like Meta, Snowflake and Stanford, creates a structural tailwind that gives us strong conviction in this asset's trajectory. We are pleased to support Ensemble as they assume full operational control of a property we believe is well-positioned to outperform.”
“Hotel Nia is a best-in-class asset with strong fundamentals that align perfectly with Newbond’s investment thesis,” said Neil Luthra, founding partner of Newbond Holdings. “This financing provides a tailored solution for this premier property, and institutional sponsorship in Ensemble. The location, coupled with the modern, high-end design, and Ensemble's deep operational experience, positions the asset for continued strong performance.”
Ensemble is transitioning hotel operations in-house to Ensemble Hospitality, its affiliated management platform.
The property has 241 standard rooms and nine suites, alongside 15,345 square feet of indoor and outdoor meeting and event space, anchored by the 4,968-square-foot Brilliance Ballroom, three food and beverage outlets, a heated outdoor pool and jacuzzi, 24-hour fitness center, and 301 valet parking spaces.
Ensemble Hospitality has a portfolio of 14 hotels across 12 markets.