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290 Old Montauk Highway, Ea...

Metrovest Equities And BLDG Management Refinance East Hampton Hotel For $217.5M With Deutsche Bank
FINANCEDHotel

Metrovest Equities And BLDG Management Refinance East Hampton Hotel For $217.5M With Deutsche Bank

290 Old Montauk Highway, East Hampton, NY, USA

$219,000,000

Building Size

Asset Type

Hotel

Closing

Dec 1, 2021

AI

A hotel property located at 290 Old Montauk Highway in East Hampton has recently undergone a refinancing transaction. The property, owned by George Filopoulos of Metrovest Equities and Matthew Joblon of BLDG Management, is situated in a thriving market in East Hampton.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $217,500,000
  • Address: 290 Old Montauk Highway, East Hampton

The financing for this transaction was provided by Deutsche Bank. Representing the lender in the deal were Dustin Stolly, Jordy Roeschlaub, Chris Kramer, Nick Scribani, and Jake Neeb from Newmark.

This refinancing deal highlights the collaboration between the property owners, George Filopoulos and Matthew Joblon, and the lender, Deutsche Bank. The involvement of Dustin Stolly, Jordy Roeschlaub, Chris Kramer, Nick Scribani, and Jake Neeb from Newmark as the lender's representatives further demonstrates the thoroughness of the transaction.

Players

Dustin Stolly

Walker & Dunlop

Broker

$49.4B

vol

267 deals

Broker
Deutsche Bank
Deutsche BankLender

Montauk 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

0.07%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93