The Showboat Hotel
A hotel property in Atlantic City, New Jersey. Securitized in 1 CMBS deal in 2022.
$140.0MAppraised value (latest deal)
53.1%Occupancy
$13.2MUnderwritten NOI
9.4%Implied cap rate
- Address
- 801 Boardwalk, Atlantic City, NJ 08401
- Property type
- Hotel · Full Service
- Year built
- 1988
- Size
- 475 Rooms
- Sponsor
- Bart Blatstein
- Loan purpose
- Refinance
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| BBCMS 2022-C18 | 2022-12-14 | $140.0M | 53.1% | $13.2M | 9.4% | $24.7M | 34.6% | 2.89x | 424B |
Historical NOI reported in BBCMS 2022-C18
| Period ending | NOI |
|---|---|
| 8/31/2022 | $13.4M |
| 12/31/2021 | $9.3M |
| 12/31/2020 | $584K |
More CMBS properties in New Jersey →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.