On July 10th 2014, Emerald Creek Capital issued a 12-month $1,650,000 commercial bridge loan to a managing principal at a private real estate investment firm. The $1,650,000 loan is backed by mortgages on four properties in northeastern New Jersey. They are located in within commuting distance to Manhattan.
The four properties are stabilized multifamily assets in residential neighborhoods, with the average occupancy rate of 95%. The loan was secured by a combination of first and second mortgages across the portfolio. These cross-collateralized mortgages offer abundant security. Furthermore, the borrower has a strong credit history and track record of real estate experience.
Since 2009, Emerald Creek Capital has delivered short term loans to middle market borrowers. The Manhattan based private equity fund delivers loans ranging from $1-20 million nationwide that are secured across all asset classes. The firm has been known for its flexible loan products and prompt closing time.