Emerald Creek Capital Originates Over $25 Million in December

News provided by

Emerald Creek Capital

12 Jan, 2015, 02:02 ET

MANHATTAN, N.Y., Jan. 12, 2015 /PRNewswire/ -- Emerald Creek Capital, a private equity firm based in New York City, finished out 2014 by closing six loans totaling over $25 million during the month of December. The loans ranged in size from around $1 million to $9 million and were secured by collateral of various property types. The collateral was located both locally in the New York Metropolitan Area as well as nationwide, with properties located in Florida and Illinois. 

$9 million was provided to a department store owner to enable him to repurchase collateral he was forced to sell during the downturn.  The loan is secured by a 43,640 square foot retail building in the South Bronx.  The property is located in the shopping corridor known as The Hub.  According to the South Bronx Economic Development Corp., this area is the second busiest shopping district in all of New York City behind only Times Square.

Outside of New York, Emerald Creek closed a $2,250,000 loan in Crystal Lake, Illinois. The borrower, the owner of a real estate investment company, needed to refinance his existing loan.  The transaction involved two properties that were cross-collateralized to ensure ample security.

Directors Mike Cleaver and Jeff Seidler contributed tremendously to this year-end push.  Together, the pair has originated over $200 million in loans across 26 states. In recognition of their success, both Cleaver and Seidler were recently presented with the commercial mortgage industry's prestigious Top 25 under 35 award. Having two originators recognized in the Top 25 under 35 confirms Emerald Creek's position as a recognized and respected player in the industry. Emerald Creek's origination grew more than 100% in 2014 as compared to 2013 and expects continued growth in 2015. 

Emerald Creek Capital is a private equity firm that specializes in providing short term bridge loans through both its onshore and offshore asset based funds. The firm will be launching its fourth income fund this month and is in a great position to expand its market share.

SOURCE Emerald Creek Capital

Related Links

http://www.emeraldcreekcapital.com

PRN Top Stories Newsletters

Sign up to get PRN’s top stories and curated news delivered to your inbox weekly!

Thank you for subscribing!

By signing up you agree to receive content from us.
Our newsletters contain tracking pixels to help us deliver unique content based on each subscriber's engagement and interests. For more information on how we will use your data to ensure we send you relevant content please visit our PRN Consumer Newsletter Privacy Notice. You can withdraw your consent at any time in the footer of every email you'll receive. Mit Ihrer Anmeldung erklären Sie sich damit einverstanden, Inhalte von uns zu erhalten.
Unsere Newsletter enthalten Zählpixel, die die Lieferung einzigartiger Inhalte in Bezug auf das Abonnement und die Interessen der einzelnen Abonnenten ermöglichen. Weitere Informationen über die Verwendung Ihrer Daten im Hinblick auf die Zusendung von relevanten Inhalten, finden Sie in unserer PRN Consumer Newsletter Privacy Notice. Ihre Zustimmung können Sie jederzeit in der Fußzeile jeder erhaltenen E-Mail widerrufen. En vous inscrivant à la newsletter, vous consentez à la réception de contenus de notre part.
Notre newsletter contient des pixels espions nous permettant la fourniture à chaque abonné, d’un contenu unique en lien avec ses souscriptions et intérêts. Pour de plus amples informations sur l’utilisation faite de vos données en vue de l’envoi des contenus concernés, nous vous invitons à consulter la politique de confidentialité disponible à partir du lien suivant PRN Consumer Newsletter Privacy Notice. Vous pouvez à tout moment revenir sur votre consentement par le biais des informations situées au bas de chaque e-mail reçu. Регистрирайки се, Вие се съгласявате да получавате информационно съдържание от нас. Нашите бюлетини съдържат проследяващи пиксели, които ни помагат да предоставяме уникално съдържание въз основа на ангажираността и интересите на всеки абонат. За повече информация относно начина, по който ще използваме Вашите данни, за да гарантираме, че Ви изпращаме подходящо съдържание, моля, направете справка с нашето Уведомление за поверителност на потребителския бюлетин на PRN. Можете да оттеглите съгласието си по всяко време в долния колонтитул на всеки от имейлите, които ще получите.