Deutsche Bank Provides $68M Refi for New Jersey Resort

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 near Hamburg, N.J., Commercial Observer has learned. 

Deutsche Bank provided the financing, while Newmark (NMRK) brokered the transaction.

The partnership between Mineral Resort & Spa and Wild Turkey Golf Club is led by a private ownership group, sources confirmed. 

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, 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. 

Correction: An earlier version of this article incorrectly listed the Davidowitz family, which leads Orsid Property Group in New York, as a co-owner of the property. That firm is not involved in the deal. The article also incorrectly listed the property contained three ski hills.  

Brian Pascus can be reached at bpascus@commericaloberver.com