Deutsche Bank Provides $68M Refi for New Jersey Resort
The property is owned by the Davidowitz family of Orsid Property Group in New York
By Brian Pascus January 10, 2025 4:48 pm
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Mineral Resort & Spa and its partner Wild Turkey Golf Club have secured $68 million to refinance Crystal Springs Resort, a 485-room, hotel-condo resort complex with six golf courses and three ski hills near Hamburg, N.J., Commercial Observer has learned.
Deutsche Bank provided the financing, while Newmark (NMRK)’s Jordan Roeschlaub and Nick Scribani arranged the nonrecourse loan, which has a sub-300 spread over SOFR.
The partnership between Mineral Resort & Spa and Wild Turkey Golf Club is led by the Davidowitz family, which leads Orsid Property Group in New York.
Located 10 miles from the New York-New Jersey border at 3621 State Route 94 near Hamburg — a town in Sussex County with a population of 3,200 — Crystal Springs Resort is a one-hour drive from both New York City and Newark Liberty International Airport. Aside from the golf courses and ski hills, the complex holds 100,000 square feet of meeting and event space that includes ballrooms, boardrooms and outdoor terraces. The property also includes 18 restaurants.
Deutsche Bank and Newmark declined comment.
Brian Pascus can be reached at bpascus@commericaloberver.com
