SAN JOSE — The owner of a big San Jose hotel has crafted a plan to land a crucial round of financing for the lodging tower — even as the current lender threatens to foreclose on a delinquent loan for the iconic property.
The financing maneuvers involve the highrise Signia by Hilton San Jose, a 541-room hotel at 170 South Market Street in downtown San Jose.
Sam Hirbod, principal owner of the hotel property in the city’s trendy and hip SoFA district, has been working for months to cobble together permanent funding on attractive terms for the hotel.
The current lender, BrightSpire Capital, has provided the hotel with a financing package that as of July 2024 totaled about $165.3 million…