NEW YORK, Oct. 4, 2023 /PRNewswire/ — Emerald Creek Capital (ECC), a prominent real estate finance firm based in Manhattan, has announced the procurement of a $110 million revolving line of credit from M&T Bank, BankUnited and Webster Bank. Mark Penna, Co-Founder and Managing Partner, and Lauren Petrozziello, Managing Director, facilitated the deal on behalf of ECC.
The $110 million facility marks a pivotal moment in Emerald Creek’s continued growth and ongoing mission; to facilitate seamless commercial real estate transactions with flexible financing options. The line of credit, secured by commercial real estate senior mortgages, contains an option to be increased to $150 million at the lenders’ discretion. The firm’s dedication to offering tailored solutions, responsive service, and expedited funding has cemented its reputation as a trusted partner in the real estate finance community.
“We are truly grateful for the opportunity to work with these well-respected institutions, as it reaffirms our position as a leader in the industry,” says Penna.
“Emerald Creek Capital has an impressive track record and a distinguished strategic approach to real estate. We couldn’t be more pleased to be working with them,” says Celeste Burgos, Senior Vice President with M&T Bank.
“We’re pleased to support the continued growth and success of a valued client relationship,” says Elvis Grgurovic, Managing Director with Webster Bank.
Launched in 2009 by Co-Founders Mark Bahiri and Mark Penna, Emerald Creek Capital has built a reputation as an industry leader in the alternative finance space. The firm provides short-term loans secured by commercial real estate nationwide for acquisitions, refinances, repositioning, and other market-driven opportunities.
SOURCE Emerald Creek Capital
Originally published at https://www.prnewswire.com/news-releases/mt-bank-bankunited-and-webster-bank-team-up-to-extend-a-110-million-line-of-credit-to-emerald-creek-capital-301947586.html
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