Hilton Head Hotels

$7,800,000 bridge loan secured by a first mortgage on two hotels, Best Western Ocean Breeze Inn and Grand Hilton Head Inn, totaling 149-keys located in Hilton Head, South Carolina. In January 2015, the borrower entered a two-year lease and purchase option agreement with the seller. The loan proceeds were used to acquire and renovate the properties as well as cover loan closing costs. Improvements include gut renovations to each room, updating the common areas, adding in a new gym area, and installing a pool in the Best Western Ocean Breeze Inn. Edgewood’s loan was paid back in full by the borrower in July of 2014.