The Showboat Hotel and Casino

A Vacant 1,331 Room Hotel and Casino
Atlantic City, NJ

$25.5MM Bridge Loan

Challenge
A developer approached Washington Square to secure financing to acquire a non-operating hotel and casino in Atlantic City, NJ. Because of the perception of Atlantic City in the lending marketplace, a majority of the lending community would not lend there.

Solution
Washington Square arranged a bridge loan from an international lending source that enabled the developer to purchase the Property with a minimum amount of cash equity.