$3,850,000 first mortgage secured by a 186-unit Class-B/C multifamily property located in Jacksonville, Florida. Built in 1972, the property consists of 24 two-story garden style buildings situated on 11.7 acres of land. Edgewood’s loan provided proceeds to purchase and perform capital improvements to the property. Capital improvements included painting the interior and exterior of each building and replacing roofs on four of the apartment buildings. Edgewood’s loan was paid off in full in September 2012.
