Hyatt Place Princeton, NJ – Loan Sale

Listing Agents

Omari Head
T | 410.406.7259

Sean Banilivy
T | 516.456.7525

Detailed Information
Property Highlights
  • $14.0MM non-performing loan (NPL) collateralized by the fee-simple interest in the 122-room Hyatt Place Princeton, NJ
  • Non-performing loan is being offered in the December 15th auction event with Ten-X
  • The note was originated September 21st, 2016 with a ten-year term, 30-year amortization, and an interest rate of 4.258% where the principal balance is approximately $12.8MM as of Oct 1st, 2021
  • Payment default on the loan occurred in April 2020 with the borrower citing COVID-related disruption to the hotel operations.
  • Loan was transferred with special servicing in July 2020
  • Property is currently receiver managed with receiver taking control of operation on 02/16/2021
  • The Hotel is well positioned within the market place and benefits from close proximity to areas most prominent demand generators including Princeton University, Princeton Hospital, Blackrock, Sesame Place Theme Park, Princeton Shopping Center and downtown Princeton
  • Property is ideally located in the Princeton area with easy access to US-1 and is situated less than 10 miles from Trenton, NJ and less than one hour from Philadelphia, PA
  • Optimal time to be investing in the Princeton area with several developments currently underway and proposed, including Prince University’s campus expansion and BeiGene’s recent announcement to develop a new campus for R&D and manufacturing at the Princeton West Innovation Campus