GreenLake Asset Management LLC Provides $22.75M Loan For Hotel In Wildwood Crest, NJ
7201 Ocean Avenue, Wildwood Crest, New Jersey 08260, United States
$22,750,000
Building Size
—
Asset Type
Hotel
Closing
Nov 1, 2022
AI
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.
Players
Wildwood 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
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93