Acres Capital Provides $37M Bridge Loan for Hilton-Branded Resort in Upstate New York
CANANDAIGUA, N.Y. — Acres Capital Corp. has provided a $37 million bridge loan to complete the construction and stabilization of the Canandaigua Finger Lakes Resort, a Hilton-branded resort in Canandaigua. Located at 205 Lakeshore Drive, the property will include 109 guest rooms, 44 residential condominium units, a restaurant and a 13,000-square-foot conference space. Mark Fogel of Acres provided the financing to developers Robert Murphy and David Genecco. Hospitality management firm Hay Creek Hotels and Restaurants will handle the design, development and operations of the resort.