In January of 2015, Emerald Creek Capital provided a $2,000,000 bridge loan in Downtown Columbus, OH. The refinance was secured by a 188′ X 188′ site that is improved with a five level, 176,720 SF, 564 space parking garage. The subject property also includes 3,645 SF grade retail space with frontage on East Long Street. Approaching a loan maturity, the borrower required certainty of execution. With the site’s immediate proximity to Nationwide Insurance’s National Headquarters and Nationwide Arena (Home of the NHL Franchise Blue Jackets), the borrower has received attractive offers to sell the property as a development site. To accommodate a potential sale, Emerald Creek Capital did not require a lockout period.
For more information, please contact:
Jeff Seidler, Managing Director