$13,772,000 bridge loan secured by first liens on two boutique executive-suite hotels located in El Paso, Texas and Lincoln, Nebraska, totaling 320 keys. Chase Suites, Lincoln is a 120-key hotel catering to the business traveler with 132 uncovered parking spaces. Chase Suites, El Paso is a 200-key extended-stay hotel totaling 288,715 square feet within an L-shaped cluster of twenty-five, two-story buildings with 242 uncovered parking spaces. Edgewood provided funds to finance the payoff of the outstanding debt on the property, capex reserve for property improvements at one of the hotels, and closing costs.
