It is with great anticipation that we announce the opening of the Hilton Homewood Suites in Sunnyvale, CA enduring COVID-19 restrictions and setbacks.
This is TAM’s third investment with Appian Capital, a real estate private equity firm that partnered with developer Huntington Hotel Group on the project. Huntington specializes in in the development, operation, and management of premier brand hotels. They have developed 17 properties since inception and have 7 hotels in development.
While the pandemic continues to impact the hotel business, we remain optimistic on the ever-growing Silicon Valley landscape. Stories about companies acquiring new office space continue to make headlines, such as LinkedIn’s acquisition of two Sunnyvale buildings last year, and Meta’s announcement that it will ease 700,000 square feet in Sunnyvale. In 2021, companies spent $8.7 billion on commercial real estate in Silicon Valley, up 1% from 2020.