Sheridan Capital Provides $19.12 Million Bridge Loan For Hotel In Fairfield New Jersey
$19,118,000
$159/SF
Building Size
120,000 SF
Asset Type
Hotel
Closing
May 15, 2025
AI
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.
Players
Union 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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93