Ashland Rail District

$6,250,000 bridge loan secured by 66 acres of land in MetroWest Boston, Massachusetts. The property has approvals to build 500 market rate apartments and 190 age restricted condominiums. The area is well-located, transit-oriented-development site with nearby access to retail, medical services, public transportation, and highways. The loan proceeds were used to pay off the existing debt on the property, cover closing costs, provide an interest reserve, and provide cash to the borrower. Edgewood’s loan was paid back in full in August of 2016.