Updated Sep 30, 2025
Amit Patel Of Spark GHC Secures $19.5M Acquisition Loan For Hotel In Wayne
350 Us Route 46
$19,500,000
Building Size
—
Asset Type
Hotel
Closing
Sep 30, 2025
About this deal
AI
The asset involved in the transaction is a hotel located at 350 US Route 46 in Wayne, NJ. The property is associated with an acquisition loan amounting to $19,500,000. The loan is structured as a five-year, floating-rate loan, indicating the financial terms of the deal.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $19,500,000
- Loan Type: Acquisition
- Loan Terms: five-year, floating-rate loan
- Landlord: Amit Patel - Spark GHC
- Broker: Cronheim Mortgage
In this transaction, Amit Patel represents the landlord, and Cronheim Mortgage facilitated the acquisition loan through its hospitality affiliate. The direct lender involved in the transaction has not been disclosed.
On the Map
$19,500,000
Hotel
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Players
Wayne Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93