$2,900,000 bridge loan secured by a 147-key un-flagged hotel in Mystic, CT. Edgewood’s loan was used to purchase the property after it was acquired by the borrower via a bankruptcy sale. Additionally, a limited amount of proceeds will be used to repair the aging roof and bring 75 rooms back online. Hotel amenities include a pool, fitness center, meeting center, outdoor patio/courtyard, and 11,000 square feet of restaurant and event space.
