Punta Gorda, FL – July 2022 – Edgecap Partners II, LLC, an affiliate of Edgewater Group LLC (“Edgewater”) is pleased to announce the refinancing of The Wyvern Hotel (“Wyvern”) located in Punta Gorda, FL. The Wyvern is owned by Wyvern Hospitality LLC a subsidiary of Edgewater Valley Forge Fund II LP (“Fund”) and is managed by Sunbelt Asset Management (LLC). The Wyvern is part of the Ascend Collection by Choice Hotels.
Wyvern was purchased by the Fund in September of 2016. From this refinancing, the Fund made a meaningful distribution to investors which, for tax purposes has returned 100% of the capital invested in the Wyvern.
The Wyvern Hotel is a full-service upscale 63-room boutique hotel. Dining venues on-site include 88 Keys Florida, a fine dining piano bar and restaurant on the first floor, and Perch 360 a newly remodeled rooftop bar serving a tapas-inspired menu. Part of the refinancing proceeds shall facilitate upgrades to the bathrooms and rooms with upscale furniture completing the modernization of the Wyvern that has continued since its acquisition in 2016. Located in downtown Punta Gorda, the Wyvern is within walking distance of all the major downtown boutique art, dining, entertainment, and shopping establishments.
Founded in 2008, Edgewater is a boutique multidisciplinary real estate Firm that provides advisory, management, and value-add investment services. Edgewater’s unique focus is on the micro and middle market segments in secondary and tertiary locations in the United States.