Emerald Creek Capital, a commercial real estate lender based in Manhattan, NY, has provided over $40 million in middle-market debt transactions this February. Spanning New York, Pennsylvania and Louisiana, the deals covered a variety of lending scenarios including acquisitions and value-add projects.
Emerald Creek lends on high quality assets that are well located, and February’s transactions exemplify this. The collateral includes an 85-unit apartment building in Philadelphia, PA, a 5-story mixed-use building in Queens, NY, and a 14-unit retail and office building in Scarsdale, NY. Four of the eight loans were provided to repeat clients.
Since 2009, investors and developers in need of financing have turned to Emerald Creek due to the firm’s speed and certainty of execution. Recently Emerald Creek provided an acquisition loan in only 4 days in Jersey City, NJ. “It was an absolute pleasure to work with Emerald Creek Capital,” explains Max Drivin, the borrower for the transaction. “They closed the loan in just 4 days! They were also very flexible on terms which was a huge help. The deal would not have happened without them.”
Highlighted Deals in February 2020:
$15,000,000 in Philadelphia, PA: Emerald Creek Capital provided a $15,000,000 bridge loan in the Olde Kensington neighborhood of Philadelphia, PA. The loan is secured by a newly constructed 58,825 square foot mixed-use apartment building. The completed project consists of 85 studio and 1-bedroom units, in addition to a ground floor retail space. The property is one of two buildings within a state-of-the-art compl`ex, offering a fitness center, on-site parking, and outdoor community spaces.
$8,250,000 in Scarsdale, NY: Emerald Creek Capital provided an $8,250,000 acquisition loan in the town of Scarsdale, one of New York City’s most desirable suburbs. The loan is secured by a two-story mixed-use building with 13,986 square feet of net rentable area. The building consists of 7 retail units on the ground floor and 7 second-floor office spaces. The property is situated on a 7,841 square foot corner lot with 280 feet of frontage.