Jan 5, 2024
Deal Closed! $7.35 Million Towards the Acquisition of a Marriott-Flagged Hotel in Paramus, NJ
Stabilis is pleased to announce the closing of a $7,350,000 senior secured bridge loan for the acquisition of a Marriott-flagged hotel in Paramus, NJ.
The borrower faced a tight closing deadline and Stabilis funded in 4 weeks. The property has strong in-place cash flow and is in line with or outperforming its competitive set in terms of occupancy, RevPAR, and ADR. The hotel also benefits from its proximity to major demand drivers, including the opening of a new $800m hospital.
Contact: Juan Robayo, 212-256-8968, firstname.lastname@example.org