National bridge lender Emerald Creek Capital (ECC) reports funding over $133 million in commercial mortgages during the first quarter of 2022, on pace to lend over half a billion for the year.
Notable among the Q1 closings is a $43.3 million acquisition loan provided on the south shore of Staten Island, NY. The loan is secured by a five-building, 51-unit commercial complex with 161,210 square feet of net rentable area. Verizon Wireless, Dunkin Donuts, and Panera Bread are among the long-term tenants in place. The property also features a Tesla charging station. The loan was funded in just three weeks.
Additionally, in Q1, Emerald Creek provided a $14.1 million acquisition loan to a long- standing repeat borrower in the city of Rochester, NY. The property consists of a 111,741- square-foot warehouse and distribution facility net leased to FedEx. The building is located within the Rochester Technology Park, home to global tenants including Pepsi, McKesson, Kodak, and L3 Harris Technologies.
Emerald Creek Capital recently surpassed $2.3 billion in capital deployed since inception and has closed 450 bridge loans in 25 states nationwide. Speed, flexibility, and certainty of execution continue to be the driving forces behind the company’s significant growth.
“We’ve seen a large increase in demand from sponsors for a financing partner that can move quickly on more complex transactions,” says Managing Partner Mark Bahiri. “Emerald Creek’s level of execution is unmatched in the industry, and this is reflected in our firm’s recent performance and positive trajectory in the first quarter of 2022.”
About Emerald Creek Capital:
With offices in Manhattan, Boston, Pennsylvania and South Florida, Emerald Creek Capital has built a reputation as an industry leader in the alternative finance space. The firm provides bridge loans secured by commercial real estate in primary markets through both its domestic and offshore investment vehicles. To date, the firm has provided $2.3 billion in first mortgage loans across 450 loan transactions.
For more information, visit www.emeraldcreekcapital.com.
SOURCE Emerald Creek Capital