|By PR Newswire||
|October 15, 2012 10:00 AM EDT||
NEW YORK, Oct. 15, 2012 /PRNewswire/ -- A surge in bridge loan demand has lenders scrambling to add capacity. In order to stay ahead of the competition, Emerald Creek Capital (www.emeraldcreekcapital.com) has just hired two new loan originators to handle the increased volume of mortgage broker inquiries and loan requests. The firm also hired a Financial Controller, Tara Callori, to assist in portfolio management and loan servicing. Ms. Callori comes from Anchin, Block & Anchin LLP a leading accounting firm based in midtown Manhattan.
In addition to these recent hires, Emerald Creek Capital has put in place an institutional Advisory Board (www.emeraldcreekcapital.com/about.html). The Board is made up of accomplished industry professionals who will provide key insight and guidance through these uncertain market conditions. It includes:
Jon Hedley - a member of the Board of Directors at The Family Office (TFO), a multi–family office serving the wealth management needs of high net worth individuals, multi–generational families, and institutions.
Howard Gellis - a former Blackstone Managing Director and member of the firm's Executive Committee. He also was the head of Blackstone's Corporate Debt Investment Group which he co-founded in 1999.
Leonard DeSomma - a founding partner at Indus Capital Partners, a multi–billion dollar asset management company focusing on Asian Pacific equities. Previously he was an analyst at Soros Fund Management.
Due to increased federal regulations and the constrained balance sheets of traditional banks, non-traditional "bridge finance" has become more prevalent. Evidence of this came in August, when Emerald Creek had its largest month ever of new loan origination. As conventional banks sit on the sidelines, bridge lenders that have the capacity to absorb the deals are taking full advantage. With over $100 million available for investment, Emerald Creek has the ability to do so.
SOURCE Emerald Creek Capital