$7.65 Million Condo Inventory and Renovation on Miami Beach
Earlier this week, Emerald Creek Capital (ECC) provided a $7,650,000 bridge loan in the Miami Beach neighborhood of Miami, Florida. The subject properties are two, three-story residential condominium buildings comprised of 27 units that have recently been gut-renovated. Our loan refinanced the existing mortgage as well as provided funds for renovation that will allow the borrower […]
$12 Million Acquisition Loan for Regional Center
Emerald Creek Capital (ECC) provided financing for the acquisition of 532,832 SF of retail space within the 672,918 SF Washington Crown Center (WCC) in Washington, Pennsylvania. Built on 94 acres, the property was acquired for $20,000,000. Positive Momentum Since 2012, there has been a lot of positive momentum including new lease agreements with junior anchors […]
$24 Million Condominium Loan in Aventura
We recently provided a $24,250,000 loan in Aventura, Florida. The loan is secured by twenty newly constructed residential condominium units in Echo Aventura, a 190-unit luxury waterfront property developed by New York and Miami based developers Kevin Maloney and Ryan Shear of Property Markets Group (PMG). Year to date, Emerald Creek has provided more than $110 […]
$15 Million Bridge Loan for Williamsburg Student Housing Project
On April 7th, 2016, Emerald Creek Capital funded a $15,000,000 bridge loan to a New York based real estate development company for a time–sensitive acquisition. The loan is secured by three adjacent lots with a total land area of 20,612 SF. At the time of purchase, three structures existed on the lots. The borrower plans […]
$15.8 Million Bridge Loan for Financial District Property
On November 15th, 2015, Emerald Creek provided a $15,800,000 bridge loan to a real estate development firm for the purchase of a building in Lower Manhattan’s Financial District. The subject property, valued at $24,520,000, is a 3,287 SF developable lot. Currently, the property is improved by a six-story mixed-use building comprised of office and retail […]
$23 Million Bridge Loan on Development Site in Lower East Side
On October 6th, 2014, Emerald Creek Capital provided a $23,000,000 acquisition loan in the Lower East Side (LES) neighborhood of Manhattan. Emerald Creek Capital’s expedited lending process enabled the developer to acquire the 10,000 SF development site located on Clinton Street between Stanton and Rivington. At the time of purchase, the site was improved by […]
Bridge Loan for Apartment Building in Meriden, CT
On July 25th, 2014, Emerald Creek Capital issued a 12-month $1,850,000 commercial bridge loan to the owner of an apartment complex in Meriden, Connecticut. The $1,850,000 bridge loan is secured through a first mortgage on the 106-unit extended stay apartment complex, valued at $4,700,000. The borrower intends to use the proceeds from the bridge loan to clear […]
Bridge Loan on Mixed Use Brooklyn Property
On August 4th, 2014, Emerald Creek Capital issued a 12-month $1,840,000 commercial bridge loan to the owner of an orthopedics center in Brooklyn, New York. The $1,840,000 loan is secured through a first mortgage on a 4,502 square foot mixed use building in Brooklyn. The subject property, valued at $3,100,000 is located on the south side of […]
Bridge Loan Secured by Cross-Collateralized Mortgages
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, […]
Emerald Creek Capital Offers a Short Term Loan for a Jewelry Wholesaler
On June 23rd 2014, Emerald Creek Capital issued a 12-month $1,250,000 short term loan to a successful jewelry specialist for the purchase of an office condo located in the International Gem Tower, which is dedicated to the diamond and jewelry industry. The borrower wanted to free up some liquidity to expand his investment portfolio in both […]