Emerald Creek Capital closes $33.5 million in Q1 2015

In a sign of healthy economic activity, Emerald Creek Capital, a middle-market portfolio lender, closed $33.5 million of short-term debt across 10 transactions in the first quarter of 2015. Although most of the secured collateral was located in and around NYC, the activity had a national footprint as well. "We are seeing a lot of lending opportunities, especially in the New York metro area," said Mark Bahiri, co-founder and managing partner. "Our current portfolio has a healthy exposure to Manhattan, which we feel very good about." Other transactions this quarter were secured by properties located in California, Pennsylvania, Illinois and Ohio. Emerald Creek attributes the strong first quarter to a variety of factors. The current regulatory environment continues to hamper traditional bank financing. Emerald Creek has been able to provide the flexible capital borrowers need to both alleviate liquidity constraints and to take advantage of time-sensitive opportunities. An overall investor confidence in the marketplace and a targeted effort to increase brand awareness have also contributed to Emerald Creek's lending activity. Ilan Bracha, co-founder of Keller Williams NYC and founder of Bracha New York said, "Emerald Creek is known within the industry for its execution and transparency. They've been there for my development firm on multiple occasions." Q1 Deal Highlights: * In February, Emerald Creek Capital provided a $7.2 million bridge loan in the East Village neighborhood of Manhattan. The acquisition loan was secured by two attached, mixed-use properties with 9,000 s/f of retail and 3,000 s/f of residential apartment area. The retail space of both buildings is connected and is undergoing a gut renovation to reopen as a restaurant and lounge. * In March, Emerald Creek Capital provided a $5 million loan secured by a Live/Work condo in the SoHo neighborhood of Manhattan. The open floor plan spans more than 3,500 s/f. With a time of the essence clause in the purchase and sale agreement, Emerald Creek Capital's expeditious financing enabled the borrower to acquire the property at an attractive basis. Emerald Creek Capital originates commercial debt from its three discretionary funds. The investment adviser is registered with the Securities and Exchange Commission. Since inception in 2009, Emerald Creek Capital has built a reputation as an industry leader in the alternative finance space, focusing on commercial real estate in primary and secondary markets.