Edgewood provided a $32.5 million bridge loan on the 470-room Marriott Chicago O’Hare hotel located near O’Hare International Airport in Chicago. The hotel, which was previously unencumbered, was completely closed at loan closing due to the COVID-19 Pandemic. Few lenders were willing or able to make hospitality loans at the time, but Edgewood recognized the intrinsic value of the asset and crafted a bridge loan solution that allowed the property’s owner to raise liquidity during the height of the pandemic. This loan was sourced, underwritten, and funded in under 30 days.
