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Cornerstone Capital Secures $5M Refinance Loan For Bethlehem, NH Hotel

Property Image
FINANCED
$5,000,000
Omry Azarzar
Igor Zakh
Russell Nova

New Hampshire

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Hotel
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FINANCED

Cornerstone Capital Secures $5M Refinance Loan For Bethlehem, NH Hotel

1108 Main Street, Bethlehem, New Hampshire 03574, United States

See Similar Deals
Hotel
Financed
Omry Azarzar
Igor Zakh
Russell Nova
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Summary

NEW HAMPSHIRE
Asset Type:Hotel
Transaction Type:Loan

The property involved in the transaction is a hotel located at 1108 Main St in Bethlehem, NH. The hotel consists of 56 keys and is situated on a 15-acre plot of land.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $5,000,000
  • Loan Type: Refinance
  • Loan Terms: 25 year fixed

The landlord of the hotel is Izzy Matson. The brokers involved in the deal are Russell Nova, Omry Azarzar, and Igor Zakh from CornerstoneCapitalOfNY. The loan amount secured for the refinance is $5,000,000. The loan was obtained through CornerstoneCapitalOfNY, with Omry Azarzar and Igor Zakh handling the file. Additionally, the sponsor received an additional $1.9 million for construction efforts on the property. CornerstoneCapitalOfNY has a dedicated team of underwriters, loan coordinators, credit managers, and advisors working together to ensure a smooth closing process for each file.

Players

Russell Nova
Cornerstone Capital Financing
Russell Nova
76 deals$491.1M volume
BROKER
Igor Zakh
Cornerstone Capital Financing
Igor Zakh
46 deals$287.8M volume
BROKER
Omry Azarzar
Refined
Omry Azarzar
2 deals$11.5M volume
BROKER

Details

FINANCED
IMAGE: Igor Zakh, Russell Nova & Omry Azarzar DATE: 12/22/2021 ADDRESS: 1108 Main St MARKET: Bethlehem, NH ASSET TYPE: Hotel ~ KEYS: 56 ~ ACRES: 15 LANDLORD: Izzy Matson BROKERS: Russell Nova @RussellNova, Omry Azarzar @OmryAzar & Igor Zakh (@Igor_Zakh) - @CornerstoneCapitalOfNY LOAN AMOUNT: $5,000,000 LOAN TYPE: Refinance LOAN TERMS: Loan Amount: $5MM, 25 year fixed NOTES: @CornerstoneCapitalofNY was able to secure Financing on this Resort in the Heart of Bethlehem New Hampshire. The owner has been trying to get a mortgage for the last 6 months and need to pay of Debt and receive a fresh loan to continue operations at the Resort. The file was handled by @OmryAzar & @Igor_Zakh AT @CornerstoneGroupofNY., The sponsor was out of ideas on how to get his Resort funded, and with our strategic relationships, we were able to achieve full funding for this Asset & $1.9MM for Construction efforts on the property. @CornerstoneGroupofNY has a FULL TEAM of Underwriters, Loan Coordinators, Credit Managers and Advisors all working together on EACH FILE to ensure consistency, transparency and most importantly the CLOSING TABLE! Russell Nova, Principal 917-559-1820 – Cell [email protected] Omry Azarzar – Director, Miami Office 609-731-9906 – Cell [email protected] Igor Zakh, Operations Officer 917 567 1646 – Cell [email protected]

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$5,000,000.00

Monthly NOI$33,333.33
Monthly Debt Service$31,603.40
Change in Cash Flow$0.00
Refinance Proceeds$0.00