Hall Structured Finance Provides $45.5M Bridge Loan For Montclair Hotel At 690 Bloomfield Ave
FINANCED
$45,500,000
New Jersey
See Similar DealsHotel
Financed 07/20/2022
FINANCED
Hall Structured Finance Provides $45.5M Bridge Loan For Montclair Hotel At 690 Bloomfield Ave
690 Bloomfield Avenue, Montclair, New Jersey 07042, United States
See Similar DealsHotel
Financed 07/20/2022
Summary
NEW JERSEY
Asset Type:Hotel
Transaction Type:Loan
690 Bloomfield Avenue in Montclair has been sold in a closed transaction. The property is a hotel with 159 keys and was purchased by The Hampshire Companies and The Pinnacle Companies.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $45,500,000
- Address: 690 Bloomfield Avenue
- Market: Montclair
The loan for this transaction was provided by Hall Structured Finance, with Donald Braun being the representative. The loan type is a bridge loan.
BayBridge Real Estate Capital represented both the buyer and seller in this deal. The brokers involved were Jay Miller, AJ Felberbaum, and Spencer Miller.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$45,500,000.00
Monthly NOI$303,333.33
Monthly Debt Service$287,590.95
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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