David Christensen & Thomas Gorski Of Red Oak Capital Holdings Provide $6M Bridge Loan For Hermosa Hotel

The asset involved in this transaction is the Hermosa Hotel & Apartments, a 46-building, mixed-use property located at 131-171 Metropole Avenue in Avalon. The property features 70 hotel keys, a spa, and 26 apartments. The total loan amount for refinancing existing debt is $6,000,000, structured under Red Oak's Core-Plus Bridge Loan Program with a loan-to-stabilized value (LTSV) of 55.24%. The renovations on this property totaled $3,000,000 since 2019.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $6,000,000
• Loan Type: Bridge
• Loan Terms: two-year, interest-only
• Lender: David Christensen & Thomas Gorski, James Myatt - Red Oak Capital Holdings
• Landlord: Damian McKinney - McKinney Capital
• Broker: Deryl Deese - Tauro Capital Advisors

This transaction involved key individuals and firms including lenders David Christensen, Thomas Gorski, and James Myatt from Red Oak Capital Holdings, who facilitated the bridge loan. The landlord, Damian McKinney from McKinney Capital, plays a significant role in property management, while broker Deryl Deese from Tauro Capital Advisors represents the transaction interests.