Edgewood provided a $32.5 million bridge loan on the 470-room Marriott Chicago O’Hare hotel located near O’Hare International Airport in Chicago. The hotel, which was previously unencumbered, was completely closed at loan closing due to the COVID-19 Pandemic. Few lenders were willing or able to make hospitality loans at the time, but Edgewood recognized the intrinsic value of the asset and crafted a bridge loan solution that allowed the property’s owner to raise liquidity during the height of the pandemic. This loan was sourced, underwritten, and funded in under 30 days.
Marriott Chicago O’Hare
$32,500,000 | 470 rooms