Emerald Creek Capital closes over 40 deals in 2015 - by Mark Bahiri

Emerald Creek Capital has had its most successful year since inception, closing over 40 real estate debt transactions across 10 states during 2015. A majority of the transactions financed by us were secured by core multifamily and mixed-use properties within NYC. Other transactions involved acquisition and value-add commercial deals across the country. Highlighted transactions for the firm in 2015 include a $15.8 million acquisition loan for a mixed-use building in the Financial District of Lower Manhattan, a $7 million acquisition loan for a regional mall in Salina, KS and an $8.55 million loan in TriBeCa, Manhattan. Expanding on our continued growth, we recently opened an office in Palm Beach Gardens, Fla. It’s been an active market. Opening up this new office will help facilitate new opportunities to add to our robust pipeline. Emerald Creek’s capital base comes from its offshore and domestic investment funds. Now on our fourth series of funds, we are well-positioned to lead the nation in the bridge finance arena. “With the equity markets already proving to be extremely volatile, investors are seeking to find safe havens in alternative investment vehicles. Our approach to investing is simple: provide borrowers with a competitive financing option while remaining senior secured on core assets. Emerald Creek Capital originates commercial debt from its series of discretionary funds. As an investment adviser, we are registered with the Securities and Exchange Commission. Since inception in 2009, we have built a reputation as an industry leader in the alternative finance space, focusing on commercial real estate in primary and secondary markets. Deal highlights: • $15.8 million in Manhattan: We provided a $15.8 million acquisition loan for a mixed-use building in the Financial District of Lower Manhattan. The loan was secured by the 19,000 s/f, free-standing office building with ground-level retail space located a block from the NYSE. The site allows for 49,000 s/f of commercial zoning and is a prime redevelopment opportunity for the planned boutique hotel. • $7 million in Salina, KS: We provided a three-year $7 million bridge loan in Salina. This loan enabled the borrower to purchase Central Mall, a 476,816 s/f mall built on 47.77 acres. The 90% occupied mall is anchored and junior anchored by Dillard’s, JC Penney, Sears, Showplex Cinemas, Jo-Ann Fabrics, Old Navy, and Ross. • $8.55 million in TriBeCa, Manhattan: We provided an $8.55 million construction loan in the TriBeCa neighborhood of Manhattan. The property is improved by a six-story, 11,300 s/f mixed-use building undergoing a condo conversion. The completed product will be comprised of four residential loft condos and one retail condo. The 3,126 s/f duplex penthouse unit will contain three bedrooms, four bathrooms and a 2,000 s/f outdoor terrace. Mark Bahiri is the co-founder and managing partner of Emerald Creek Capital, Manhattan, N.Y.