Emerald Creek Capital Closes $800,000 Bridge Loan in 16 Days

NEW YORK, July 28 /PRNewswire/ -- Emerald Creek Capital
(www.emeraldcreekcapital.com), a short-term bridge lender, specializing in
commercial real estate financing, recently announced it has closed a one-year
$800,000 bridge loan for the refinance of nine townhomes in West Yaphank, New
York.

With two weeks remaining before his note came due, the borrower had completed
construction of 36 townhomes and had sold off 27 of them. Under pressure from
the former lender to sell off the remaining units in order to pay back the
balance of the lien, the borrower requested short-term bridge financing to
allow him to sell the units at the proper price point.

Emerald Creek Capital (www.emeraldcreekcapital.com) approved a one year
commercial real estate bridge loan for the refinance of the current debt on
the townhouse development, placing a first position lien on the remaining nine
inventory units. The loan was issued with no prepayment penalty and no lockup
period allowing the borrower to pay back the debt as the units are sold.

Mark Bahiri, a managing partner at Emerald Creek Capital
(www.emeraldcreekcapital.com/mark_bahiri.html), commented on the deal: "With
the credit markets essentially frozen, we launched our fund to assist
borrowers who are experiencing difficulties refinancing their existing debt.
As in this case, we are beginning to ease the refinancing woes of borrowers
nationwide, and doing so in a fast and efficient manner."

The development encompasses a total of 36 new and beautifully built townhomes
ranging in size from 1,175sf - 1,569sf. Recent history confirms average sales
between $268,900 and $300,850 per unit. The townhomes are located in West
Yaphank, NY about 45 miles east of Manhattan. With the property now
refinanced, the borrower has more time to comfortably sell his remaining
inventory at his desired price point.

With its headquarters in Manhattan, NY, Emerald Creek Capital is filling the
gap created by the frozen credit markets (www.emeraldcreekcapital.com). They
are providing short-term loans secured by commercial real estate to borrowers
who are experiencing liquidity constraints, as well as to those who are
looking to capitalize on opportunities that have arisen within the commercial
real estate market.

Website: http//:www.emeraldcreekcapital.com

SOURCE Emerald Creek Capital

Mark Bahiri, +1-212-239-6861, mark@emeraldcreekcapital.com