$5,212,500 first mortgage secured by a 101-key hotel operating as a Holiday Inn in North Addison, Texas. The loan proceeds were used to purchase the property and cover PIP costs associated with converting the hotel from a Holiday Inn to a Radisson. Improvements to bring the hotel up to standard included renovation of the front desk, lobby, restaurant, public restrooms, and guest rooms. Edgewood’s loan was paid off in full on July 2017.
