NEW YORK, April 4, 2017 /PRNewswire/ -- Emerald Creek Capital, a national debt provider serving middle market commercial real estate transactions, has just announced two recent closings originated from their south Florida office. The short-term bridge loans totaled $6,500,000 and are secured by high-quality real estate collateral in the Orlando and Cocoa metro areas. These two transactions build upon Emerald Creek's track record of lending on income-producing assets in mature markets.
"We continue to see increasing momentum in alternative lending within Florida's real estate market," comments Mike Cleaver, a Managing Director at the firm. "Our ability to move quickly enables borrowers to take advantage of unique investment opportunities that traditional lenders cannot." The deals are among a number of high profile transactions completed by Emerald Creek in 2017, totaling over $52 million thus far— a promising start to the year for the reputable lender.
$3,200,000 in Orlando, FL: Emerald Creek Capital provided a $3,200,000 bridge loan to the owner of a Quality Inn hotel in Orlando, Florida. The subject property is a stabilized, two‐story hotel containing 99 rooms on a 56,832 SF site, adjacent to Orlando International Airport and nearby to frequented destinations such as Universal Orlando and the Orange County Convention Center. The borrower looked to efficiently refinance an existing loan as it reached maturity and Emerald Creek offered an alternative short-term loan structure with competitive terms.
$3,300,000 in Cocoa, FL: Emerald Creek Capital provided a $3,300,000 acquisition loan for a buyer to secure a commercial property in Cocoa, Florida. The 85,500 SF retail center is anchored by Winn-Dixie and includes Family Dollar and Metro PCS among other retailers. The property is located in a prime area of East Coast Florida and is frequented by locals and tourists alike. The buyer looked to the firm as a trusted lender during a time-sensitive investment opportunity.
About: Since inception in 2009, Emerald Creek Capital has built a reputation as an industry leader in the alternative finance space. The firm provides bridge loans secured by commercial real estate in primary markets through both its domestic and offshore investment vehicles.
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SOURCE Emerald Creek Capital