AJ Capital Partners Secures $52M Refinancing for Princeton Hotel

AJ Capital Partners has closed a $52 million refinancing for the Graduate by Hilton Princeton, a 180-room hotel at 10 Chambers Street in Princeton, New Jersey. According to sources familiar with the transaction, GreenOak, formerly known as BGO, originated the loan. The hotel opened in 2024 and sits directly across from Princeton University.

The financing carries a three-year term with two 12-month extension options. CBRE brokers Tom Rugg, Tom Traynor and Henry Fenmore arranged the deal, though the brokerage declined to comment. Neither GreenOak nor AJ Capital responded to requests for comment before publication.

The property is part of AJ Capital's portfolio of 33 Graduate Hotels located near higher education campuses in the United States and the United Kingdom. The Nashville-based firm also holds other hospitality assets. The Princeton loan follows a $62.5 million refinancing from Peachtree Group in August for the firm's Graduate by Hilton Nashville property.

For developers and lenders, the deal shows continued capital availability for select hospitality assets tied to university markets, with refinancing structures built around short initial terms and extension options.