Dutch Colony Hotel & Suites

Ironwood participated in the acquisition of the note on an under-performing hotel. This well-located real estate had many re-development options, and Ironwood purchased with the understanding that its principals could execute a re-development strategy if the note was foreclosed on by the company.

Development Challenges:

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• Closing on the purchase in a compressed time period

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• Removing one asset from a pool of unrelated notes

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• Working with a non-performing and hostile bank borrower