GreenLake Asset Management LLC Provides $22.75M Loan For Hotel In Wildwood Crest, NJ
FINANCED
$22,750,000
New Jersey
See Similar DealsHotel
Financed 11/02/2022
FINANCED
GreenLake Asset Management LLC Provides $22.75M Loan For Hotel In Wildwood Crest, NJ
7201 Ocean Avenue, Wildwood Crest, New Jersey 08260, United States
See Similar DealsHotel
Financed 11/02/2022
Summary
NEW JERSEY
Asset Type:Hotel
Transaction Type:Loan
A hotel located at 7201 Ocean Ave in Wildwood Crest, NJ has recently undergone a closed transaction. The hotel consists of 108 keys, providing ample accommodation options for guests.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $22,750,000
- Address: 7201 Ocean Ave, Wildwood Crest, NJ
- Market: Wildwood Crest, NJ
- Lender: GreenLake Asset Management LLC - Peter Chang
- Loan Amount: $22,750,000
The lender in the transaction is GreenLake Asset Management LLC, represented by Peter Chang. The loan amount provided for this deal is $22,750,000. The involvement of GreenLake Asset Management LLC highlights their confidence in the potential of this hotel property.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$22,750,000.00
Monthly NOI$151,666.67
Monthly Debt Service$143,795.48
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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