Emerald Creek Capital issues $2.8 million loan

Emerald Creek Capital issued an 18-month, $2.8 million loan secured by retail properties in Long Branch and Wall, N.J., both in Monmouth County. Situated on a 3.2-acre site adjacent to Monmouth Racetrack, the property in Long Branch totals 28,000 s/f and is occupied by three tenants. Allocations were made to improve the value of the collateral by subdividing an outparcel. Situated on 1.15 acres on Rte. 35, the property in Wall totals 13,200 s/f and is also currently occupied by three tenants. "With allocations for a partnership buyout, soft costs, and Cap Ex, there were a lot of moving parts," said Jeff Seidler, Emerald Creek Capital's senior vice president. "By focusing on the underlying real estate fundamentals, we were able to execute very quickly." Emerald Creek Capital has enjoyed success nationwide, but is especially active in and around its home base of Manhattan. Emerald Creek Capital provides loans secured by all kinds of commercial real estate. The firm provides loans to middle market borrowers, generally in the amounts of $1-20 Million.