)
Deal Details
Private Loan Type
Refinance
Approx. Funding Date
08/25/2022
Property Type
Hotel
Property City
Tenafly
Property State
NJ
Loan Term (months)
14
Lien Type
1st Mortgage
Payment Type
Interest Only
Location Type
Suburban
Number of Units
119
Lot Square Footage
161,172
Lot Acreage
3.70
Deal Summary
Ontario Wealth Management Corporation, a direct private real estate lender, funded a $4,000,000 1st lien position bridge loan secured by a 119-unit hotel in Tenafly, New Jersey. The subject property is approximately 161,172 square feet set in a 3.70-acre lot. The loan term was set at 14 months. This refinance bridge loan was funded in August 2022.
Funded By
Ontario Wealth Management Corporation
Direct Lender for Commercial Real Estate Bridge Loans