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Broadreach Capital Partners Breaks Ground on $250 MM Office & Hotel Development in Silicon Valley

PALO ALTO, Calif. - Aug. 13, 2018 - Rezul -- Broadreach Capital Partners and partner Rockwood Capital have broken ground on the Ameswell Mountain View, a $250 million mixed use development comprising a 220,000-square-foot Class A office building and 255-room modern luxury hotel located on one of the last fully entitled development sites in Mountain View, CA.

Ameswell Mountain View is the culmination of four years of planning and land assemblage by Broadreach, which recently completed a 246,000-square-foot LEED Platinum office build-to-suit for Google, Inc. at 1625 Plymouth in Mountain View's Bayshore submarket.  Located at the gateway to downtown Mountain View at the convergence of US 101 and State Route 85, approximately one-third of the 10-acre development site is devoted to open space with walking and biking trails and recreational areas.

"Ameswell is characterized by its outstanding location and access," said Broadreach Managing Director John Foster.   "It is less than a mile from Castro Street and the Baby Bullet Caltrain Station and offers immediate access to US 101, Highway 85 and the Stevens Creek Trail. Surrounded by the five largest companies in the world by market capitalization, Ameswell is arguably one of the most desirable locations in Silicon Valley."

Anchoring the site is a five-story LEED Platinum office building with glass curtain wall.   The building features expansive 47,000-square-foot floor plates, ceiling heights up to 16 feet and full height windows to take advantage of the unobstructed views of San Francisco Bay, the East Bay and the Santa Cruz Mountains.   Building amenities include a large roof deck, terraces and breakout areas to connect tenant space with the outdoor environment. Parking is all structured three parking stalls per 1,000 square feet of office space.

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Broadreach has engaged Terry Haught and Mark Daschbach of Newmark Cornish & Carey in the firm's Palo Alto office as exclusive leasing agents for the office building, which is expected to be completed in November 2019.

The Ameswell Hotel, set to open in July 2020, will be one of Silicon Valley's most prominently located newly constructed independent lodging properties and will feature creative, local design with a strong emphasis on art and technology.  In addition to an active lobby and reception area, the hotel will include more than 6,000 square feet of meeting space, a fitness center, restaurant with outdoor dining, beer garden, pool and lounge area with cabanas, fire pits and an event lawn.

The hotel's programming will be led by Broadreach Managing Director Philip "Flip" Maritz who developed and operated the luxury Rosewood Sand Hill hotel in Menlo Park as then-chairman of Rosewood Hotels.

"Much of the same team behind the Rosewood Sand Hill has been assembled to craft The Ameswell Hotel as a more sophisticated alternative to what exists in Silicon Valley," said Maritz.  "Not only do we want the hotel to serve both leisure and business travelers, The Ameswell Hotel will be an 'after work' destination for those who live and work in Mountain View and the greater community."

Drawing on the talents of the Bay Area's designers, architects, chefs and mixologists, Maritz promises a one-of-a-kind curated hotel experience, which will include such things as a custom crafted cocktail menu, art program and events that take advantage of the property's large outdoor footprint.

The development team includes: WRNS Studio, architect; RYS Architects, architect; BAMO, interior designer; SWA Group, landscape architect; Vance Brown Inc., general contractor; Johnstone Moyer, Inc., general contractor.

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About Broadreach Capital Partners

Established in 2002, Broadreach Capital Partners (http://www.broadreachcp.com) is a real estate investment firm focused on the development, acquisition and asset management of commercial and lodging properties primarily in the western United States.  Broadreach targets markets with highly educated workforces, attractive amenities and constraints to development, which provide growth opportunities and protection from cyclicality.  The Broadreach team is among the most respected and consistently successful development groups in the western U.S.  Collectively, team members have developed over $2.6 billion of commercial and hotel properties.  Broadreach takes pride in creating high quality, innovative environments for all our constituents: office tenants, hotel guests, neighbors and broader communities.

About Rockwood Capital, LLC
Rockwood Capital, LLC is a real estate investment management firm, founded in 1995 that provides equity capital combined with real estate operating expertise for repositioning, recapitalization, development and redevelopment of retail, hotel, residential, office and research and development space in key markets throughout the United States.  Rockwood and its principals have invested on behalf of their clients approximately $27.4 billion of real estate through ten value-add vehicles and ten separate accounts.  Today, Rockwood is an 75-person real estate investment firm with offices in New York, NY, San Francisco, CA, and Los Angeles, CA that manages a portfolio of approximately $9.9 billion of gross real estate value.  Rockwood's investors include public and private pension funds, endowments, foundations, insurance companies, fund of funds, high net worth individuals and family offices.  Learn more at www.rockwoodcap.com.

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Source: Broadreach Capital Partners

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