$3,000,000 bridge loan secured by a first mortgage on a 150-unit apartment community known as Amity Green Apartments in Fairborn, Ohio, a suburb of Dayton. Built in 1969, Amity Green Apartments consists of a mixture of one bedroom and two-bedroom units in 3 three-story buildings and 1 two-story building on 7.5 acres of land. Edgewood’s loan was needed to acquire and perform capital improvements to the property which had been suffering from neglect and underinvestment by the previous owners. The borrower upgraded all units and added additional community amenities. Major capital improvements include structural repairs to the foundation and façade, all new roofs, and replacement of the old single pane windows with new double pane windows. Edgewood’s loan was paid back in full in September of 2015.
