Emerald Creek Capital provides 11 bridge loans totaling $30 million this summer

Emerald Creek Capital, a private equity firm based in New York City, provided 11 bridge loans totaling $30 million this summer. Proceeds were disbursed to borrowers in six states and were used for acquisitions, refinances and other market-driven opportunities. The firm closed a $7.25 million loan for the purchase of a retail unit located at 377 Broadway in TriBeCa in less than two weeks. The borrower was able to acquire the 15,000 s/f ground-floor unit, and intends to triple net lease the space. In another New York City transaction, Emerald Creek provided a $4.05 million loan for the purchase of a development site in East Williamsburg, Brooklyn. The loan was collateralized by both the acquired development site as well as an additional multi-family property. The development site contains 16,875 s/f of gross buildable area and both properties are extremely accessible from Manhattan. Outside of New York, Emerald Creek closed a $7.2 million loan in King of Prussia, PA. The bridge loan is secured by a 139,711 s/f office building that sits on an 18.14 acre land parcel outside of Philadelphia. The property benefits from a location near the King of Prussia Mall and the Valley Forge Convention Center. Emerald Creek has continued to expand its infrastructure. After hiring a chief financial officer and creating an institutional advisory board in 2012, the firm has hired Lauren Petrozziello as its chief compliance officer. Petrozziello is a Certified Public Accountant and joins Emerald Creek from Cantor Commercial Real Estate (CCRE). Prior to her tenure at CCRE, she worked as an audit associate for Ernst & Young's Real Estate practice. Petrozziello graduated from the University of Notre Dame with a bachelor's degree of Business Administration in Accountancy. Launched in the first quarter of 2009, Emerald Creek Capital is a private equity firm that specializes in providing short term bridge loans through both its onshore and offshore asset-based lending funds.