The bridge financing has a term of three years withinterest-only payments for the first 24 months with a 30-yearamortization schedule after. The financing is to rehabilitate andexpand the resort. Representatives from Loeb did not returnrepeated calls for comment on the project.


The 750-acre Eagle Ridge Resort has a golf course and a resortwith 80 guest rooms, an indoor pool, a fitness center, about 10,800sf of meeting space and a 6,000-sf spa. The meeting space andpublic areas were renovated this year and a "gourmet coffee shop"was constructed in the lobby earlier this year as well, saysGeoffrey Rice, SVP in CB Richard Ellis' New York Capital Marketsgroup, which secured the financing. The indoor pool was renovatedlast year with a hot tub currently being installed in an outdoorrecreation area, Rice says.


There are three 18-hole golf courses in addition to a nine-holecourse, with each course having a clubhouse and pro shop. Theproperty also has 208 condominium units and 75 homes for rental,with the entire property encompassing 6,800 acres.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.