Emerald Creek Capital lends all over east coast

Emerald Creek Capital has lent all over the east coast - via Massachusetts, Delaware and Florida - moving West into Ohio and all the way to Oklahoma. In June, Emerald Creek provided a $4.2 million one-year loan secured by a multifamily residential property in Boston's Beacon Hill neighborhood. The building contains 11 units and 12,600 s/f of net rentable area. The borrower used the proceeds from Emerald Creek's loan to purchase a property in Fla. Another June deal took Emerald Creek to Okla., financing the purchase of 437,000 s/f of the Tulsa Promenade mall via a three-year $6 million loan. In July, Emerald Creek lent $780,000 in Bowling Green, OH with a term of one year. Under the constraint of an expiring 1031 exchange, the borrower used Emerald Creek's loan to purchase a single-story 4,495 s/f office building. The office is occupied by the Social Security Administration. Emerald Creek also provided a $2.1 million one-year loan secured by three waterfront lots on Delaware's Fenwick Island. The borrower will use the loan's proceeds to construct a 5,400 s/f home on the site. Finally, Emerald Creek Capital capped off July by providing an eighteen-month $2.78 million loan secured by a multifamily property in Florida. The fully-occupied, ten-unit building contains an area of 13,930 square feet. The borrower will use the proceeds from Emerald Creek's loan to construct three additional identical buildings on the site. "It is both exciting and humbling to see great lending opportunities come up outside of New York," remarks Mark Bahiri, Managing Partner of Emerald Creek: "With such high demand for our product, we are considering opening up a second office in either Florida or California." Mr. Bahiri makes it a habit to inspect potential investments personally, logging in a lot of frequent flyer miles. Emerald Creek Capital closely guards its reputation for executing quickly (at times, within a week), so the company's Managing Partners have to be ready to hop on a plane at a moment's notice. This may seem excessive, but it saves the day when a borrower stands to lose a deposit or a limited-time discounted payoff offer. Based out of Manhattan, NY, Emerald Creek Capital has enjoyed success nationwide for some time. The firm provides loans - secured by all kinds of commercial real estate - to middle market borrowers, generally in the amounts of $1-20 Million. - END -