EDGEWOOD PROVIDES $3.85 MILLION LOAN FOR MULTIFAMILY ACQUISITION

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JACKSONVILLE, FLA. — Edgewood Capital has funded a $3.85 million bridge loan for the acquisition of the 186-unit Eagles Pointe in Jacksonville. The 2-year loan provides 70 percent of the total capitalization including property acquisition, capital improvements, operating reserve and transaction costs. This is the fifth residential complex acquired by the borrower in the past 16 months, three of which were funded by Edgewood Capital.

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