Sheridan Capital Provides $19.12 Million Bridge Loan For Hotel In Fairfield New Jersey
FINANCED
$19,118,000
New Jersey
See Similar DealsHotel120,000 SF
Financed 05/16/2025
FINANCED
Sheridan Capital Provides $19.12 Million Bridge Loan For Hotel In Fairfield New Jersey
Hotel120,000 SF
Financed 05/16/2025
Summary
NEW JERSEY
Asset Type:Hotel
Price Per Square Foot:$159
Total Square Footage:120,000 SF
Transaction Type:Loan
The transaction involves a hotel asset in Fairfield, NJ, featuring 204 keys and a total square footage of 120,000. The loan amount for this property is $19,118,000 with a bridge loan type.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $19,118,000
- Market: Fairfield, NJ
- Keys: 204
- Square Footage: 120,000
- Lender: Sheridan Capital
- Lender's Representative: Ralph Gelley - Sheridan Capital; Rael Gervies & Eliezer Finkel - Meridian Capital Group
- Loan Type: Bridge
The key individuals involved in this transaction include Ralph Gelley from Sheridan Capital, along with Rael Gervies and Eliezer Finkel from Meridian Capital Group, representing the lender in this deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$19,118,000.00
Monthly NOI$127,453.33
Monthly Debt Service$120,838.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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