The Albemarle Hotel

The Albemarle Hotel

Early Stage

Real estate development project

Real estate development project

Overview

Raised this Round: Raised: $1,800,000

Total Commitments ($USD)

Platform

Vicinity

Start Date

04/01/2021

Close Date

05/05/2021

Min. Goal
$350,000
Max. Goal
$1,800,000
Min. Investment

$1,000

Security Type

Convertible Note

SEC Filing Type

RegCF    Open SEC Filing

Year Founded

2017

Industry

Real Estate & Construction

Tech Sector

Non-Tech

Location

Fayetteville, North Carolina

The Albemarle Hotel is raising funds on Vicinity. The company is reclaiming the history of Albemarle and redeveloping The Residences at the Albemarle Hotel. It is a real estate project in the heart of Stanly County and is being led by Jordan Jones, a North Carolina native and real estate developer. The plan is to convert the old hotel layout into 29 for-rent apartments and commercial space. Jordan Jones founded The Albemarle Hotel in December 2017. The current crowdfunding campaign has a minimum target of $350,000 and a maximum target of $1,800,000. The campaign proceeds will be used for demolition, general construction, carpentry, and a rooftop amenity.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-14,895

$-5,159

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$0

$23,108

Accounts Receivable

$0

$0

Total Assets

$332,442

$371,211

Short-Term Debt

$0

$0

Long-Term Debt

$328,370

$319,900

Total Liabilities

$328,370

$319,900

Financials as of: 04/01/2021
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The Albemarle Hotel on Vicinity 2021
Platform: Vicinity
Security Type: Convertible Note

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