In December of 2017, Emerald Creek Capital provided an $8,000,000 acquisition loan in the Metro Center neighborhood of Springfield, MA. The loan is secured by a 120,000 square foot apartment building containing 99 residential units and 102 covered parking spaces. The borrower intends to develop an additional 15 units on the ground floor of the property, renovate the existing units with high-end finishes, and add amenities including a gym and lounge. Metro Center is Springfield’s central business district, home to prestigious cultural institutions, universities, as well as government and commercial headquarters. The area is accessible by Route 91 and Route 291.
For more information, please contact:
Mark Bahiri, Managing Partner