Meridian Capital Group Facilitates $28.5M Refinance For Eatontown Hotel
FINANCED
$28,500,000
New Jersey
See Similar DealsHotel190,000 SF
Financed 06/27/2024
FINANCED
Meridian Capital Group Facilitates $28.5M Refinance For Eatontown Hotel
Hotel190,000 SF
Financed 06/27/2024
Summary
Asset Type:Hotel
Price Per Square Foot:$150
Total Square Footage:190,000 SF
Transaction Type:Loan
The hotel property in Eatontown, consisting of 208 keys and spanning 190,000 square feet, was part of a refinancing deal totaling $28,500,000. The asset is owned by Hotels Unlimited and was handled by Morris Betesh & Jack Mcphail from Meridian Capital Group.
Summary of transation details:
- Property Type: Hotel
- Transaction Amount: $28,500,000
- Market: Eatontown
- Number of Keys: 208
- Square Footage: 190,000
- Landlord: Hotels Unlimited
- Brokers: Morris Betesh & Jack Mcphail - Meridian Capital Group
- Loan Type: Refinance
The refinancing deal for the hotel property in Eatontown was facilitated by Morris Betesh & Jack Mcphail from Meridian Capital Group, representing the parties involved in the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$28,500,000.00
Monthly NOI$190,000.00
Monthly Debt Service$180,139.39
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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