$7,000,000 loan secured by 62 unsold condominium units totaling 128,877 square feet at Stretford at the Cascades condominium located at 2801 Wexford Drive, Tyler, Texas. Stretford at the Cascades was built in 2008 and is a 14-story Class-A 84-unit luxury condominium tower located on The Cascade golf course in Tyler, Texas. Edgewood’s loan was to purchase 62 of the 84 units, as well as, finance the repairs, restoration, renovation, and improvements on the property, and provide an interest reserve. Once improvements were complete, the condos were brought to market and individually sold.
