BDG Hotels Secures $14.6 Million Construction Loan For Marriott TownePlace Suites In Lyndhurst

The asset involved in this transaction is a development site located at 1201 Wall Street West in Lyndhurst. The site is poised for the construction of a Marriott TownePlace Suites hotel, which will feature 128 rooms. The project is managed by BDG Hotels and is anticipated to be completed by late 2025 or early 2026. The construction loan secured for this project amounts to $14,600,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $14,600,000
• Market: Lyndhurst
• Landlord: BDG Hotels
• Broker: David Turley - Cronheim Mortgage
• Loan Type: Construction

David Turley from Cronheim Mortgage represented the broker in this transaction, facilitating the construction loan for the development site that will host the Marriott TownePlace Suites hotel. This deal enhances the growth potential for the area while providing a hospitality option expected to serve the needs of both business and leisure travelers.