NEW YORK, Jan. 21 /PRNewswire/ -- Emerald Creek Capital (www.emeraldcreekcapital.com), a private equity firm specializing in short-term bridge loans, has recently funded an acquisition loan of $1,350,000. The loan closed in just nine days and was secured by a 50,000 SF shopping center in Branford, CT, boasting such tenants as McDonald's, Rite Aid and the U.S. Postal Service.
After receiving the winning bid at the auction, the buyer was under extreme pressure to close the transaction. With the purchase contract expiring in nine days, conventional financing was no longer an option. Emerald Creek Capital was able to underwrite and approve the deal before the fast approaching deadline. "The sponsor had 10% down which was non-refundable," explains Jeff Seidler, Senior Vice President of Emerald Creek, "We certainly had no time to waste on this one."
Headquartered in Manhattan, New York, Emerald Creek Capital (www.emeraldcreekcapital.com) is quickly filling the gap created by the frozen credit markets. The firm provides short-term loans secured by commercial real estate. Borrowers looking to take advantage of new opportunities arising in today's market look to Emerald Creek Capital as a short-term solution.
SOURCE Emerald Creek Capital