11/03/2025 – Huntington Beach, CA – Schelin Uldricks & Co., through affiliate Pierside Capital, is pleased to announce that it has successfully raised fixed-rate preferred equity for a boutique hotel in Wildwood Crest, NJ. Proceeds from the financing are being used to pay down the senior mortgage on the property and extend its term for an additional year.
The project is a beachfront hotel that has gone through extensive renovation and remodel. The hotel came online in May 2024 and needs another year of operations to fully season the income. “Through our strong investor relationships, we were able to locate and place an investment for our client in a very short period of time,” commented Derek Uldricks, co-founder of Pierside Captial. “We believe the project has a very bright future with an incredible location and management team that is well equipped to drive value at the property.”
Due to the seasonality of the project, it takes a bit longer to stabilize the operations. The project is effectively brand new and was closed prior to our client acquiring the site so there were no return guest bookings to anchor operations at the time of the acquisition.
About Schelin Uldricks & Co.
Schelin Uldricks & Co. is a commercial real estate firm offering investment banking services with a focus on providing capital solutions to real estate companies and other mid-sized businesses.
Headquartered in Huntington Beach, CA, Schelin Uldricks & Co. embodies an entrepreneurial culture focused on integrity, transparency, execution, and ingenuity. The founding partners bring over 35 years of collective capital markets experience in investment banking, private equity, and real estate finance. The company offers a broad array of services, including debt and equity placement, M&A, GP advisory, divestitures, and financial restructuring.