Brick Capital completes two loans totaling $8 million

Manhattan, NY Brick Capital Partners LLC, has completed two loans totaling $8 million.

In the first deal, Brick Capital, through an affiliate entity, funded a first mortgage acquisition loan in the amount of $3.5 million to a private real estate investor. Located in the East Village, the collateral is comprised of a six-story walk-up apartment building that contains 12 apartments. The interest-only loan is for a two-year term and was closed within five days of application in order to facilitate the purchaser’s time of the essence closing.

In the second deal, Brick Capital, through an affiliate entity, has funded a second mortgage in the amount of $4.5 million to a local real estate investor. The collateral, located in TriBeCa, is comprised of a five story mixed-use building comprised of retail and office tenants. The interest-only loan is for a two year term and was closed within two weeks of application.