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Brokerage
Posted: April 19, 2016
Emerald Creek Capital funds 11 loans totaling $40 million during the first quarter 2016
Mark Bahiri, EmeraldCreek Capital
New York, NY During its first quarter of this year, Emerald Creek Capital, an industry leader in the alternative finance space, funded $40 million in real estate debt transactions. The eleven loans were secured by collateral located across five states and comprised of a mixture of multifamily, retail, mixed-use and office properties.
Emerald Creek’s capital base comes from its offshore and domestic investment funds, which have experienced healthy growth since inception. Now on its fourth series of funds, the firm is well-positioned to continue to capitalize on the evolving real estate market.
“With the future of equity markets uncertain and the ultra-luxury and land markets starting to dip, Emerald Creek’s focus will be on finding the right opportunities in core areas,” said Mark Bahiri, managing partner. “We have a proven track record of underwriting strong real estate, and our investors recognize it.”
Highlighted transactions for the firm include an $8 million acquisition loan for a mixed-use property in the Kips Bay neighborhood of Manhattan. Emerald Creek Capital provided a loan secured by a 12,500 s/f mixed-use building situated on a 6,400 s/f lot. In addition to the gross building area, the property has an additional 26,141 s/f of developable rights. Located in the Kips Bay neighborhood of Manhattan, the site is located within walking distance from Grand Central Station and benefits from immediate access to multiple subway train lines.
Emerald Creek Capital is a direct portfolio lender originating commercial bridge loans. They provide short-term financing secured by a first mortgage on commercial real estate. Our open-door lending platform allows us to deliver fast and flexible loans tailored to the specific needs of each client. Capital is available for acquisitions, refinances, repositioning and other market driven opportunities.
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