$17.4 Million Loan Supplied to Boutique Waterfront Hotel on Shelter Island
September 17, 2021 — Fort Amsterdam Capital, an affiliate of Sugar Hill Capital, has provided a $17.4 million bridge loan on a boutique waterfront hotel located on Shelter Island in New York. The Sponsor has extensive experience in the market and a successful track record of renovating and operating boutique hotels. The loan will facilitate the Sponsor’s business plan to transform the hotel into a full-service luxury resort featuring enlarged guestrooms, a spa and fitness center, a modernized lobby, and an enhanced restaurant and lounge.