Punta Gorda, FL – Edgecap Partners II LLC, an affiliate of Edgewater Group LLC (“Edgewater”), is pleased to announce the acquisition of The Wyvern Hotel in Punta Gorda, FL, by Wyvern Hospitality LLC (“Wyvern”), a subsidiary of Edgewater Valley Forge Fund II LP.
This full-service upscale boutique hotel includes 63 guest rooms, a 650-square foot conference room, a full-service restaurant and rooftop pool and dining. Additional amenities at the hotel include a fitness center, rooftop pool, ultra-high-speed wireless internet, complimentary coffee station in the lobby and the option for room service. The hotel is expected to undergo an upgrade in the upcoming twelve months.
The property was purchased for $9.5 million. Financing was provided by Charlotte County State Bank. Debt placement was arranged by Alison Williams, Vice President of Walker & Dunlop.
Founded in 2008, Edgewater is a boutique multidisciplinary real estate Firm that provides distressed 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.