Avant Capital Provides $24M Bridge Loan For Showboat Hotel & Casino In Atlantic City
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This MultiFamily property located in NJ received a loan of $24,000,000 almost 2 years ago. The broker of the deal was Bernard Wolff
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- Location810 Pacific Avenue, Atlantic City, New Jersey 08401, United States
- Loan Value$24,000,000
- Asset TypeMultiFamily
- Parties1 Broker, 1 Agency, 1 Lender
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Deal Summary
LOAN
IMAGE: Bernard Wolff
DATE: 04/22/2022
ADDRESS: 810 Pacific Ave
MARKET: Atlantic City, NJ
ASSET TYPE: Multifamily ~ UNIT: 255 ~ SF: 240,000
LENDER: Avant Capital - Bernard Wolff
LANDLORD: Tower Investments
BROKERS: BWE
LOAN AMOUNT: $24,000,000
LOAN TYPE: Bridge
NOTE FROM LENDER: Pleased to announce that I originated a $24-million bridge loan, on one of the three towers comprising the former Showboat Hotel & Casino in Atlantic City. The loan provided the sponsors with proceeds for the recapitalization, equity cash-out of the property and closing costs.
We are providing bridge loans across the country, and we are developing a great reputation in the market by financing deals that need quick closes and creative structuring to meet the borrowers’ objectives.
Bernard Wolff
[email protected]
(203) 612-9581
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810 Pacific Avenue
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