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Case Real Estate Capital, LLC Funds $1.4 Million Construction and Acquisition Loan for Single-Family Residences in Connecticut

| May 20, 2014 | 0 Comments

Jon Leifer
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Case Real Estate Capital, LLC
340 West Passaic Street, Third Floor
Rochelle Park, NJ 07662

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Release Date: Tuesday, May 20, 2014

Media Contact: Caryl Bixon-Gordon (201) 796-7788

Private Lender Recently Expanded Product Line to Include Loans in $1 Million to $5 Million Range in N.Y. Metropolitan Area

ROCHELLE PARK, N.J., May 20, 2014 – Case Real Estate Capital LLC, a direct private lender, has funded a $1.4 million loan to 13 Turkey Hill Drive LLC, an experienced Fairfield County, Connecticut-based residential construction team. The collateral included three high-end single family residences in Westport, and the funding was used for construction.

“The homes were in different stages of construction, which required a great deal of creativity among everyone involved,” said Sandy Herrick, Managing Principal and Co-founder of Case Real Estate Capital. Established in January of 2013, the company provides short-term, fixed-rate loans to reposition or redevelop transitional assets.

The properties, all in Westport, include a 90 percent completed, 5,000-square-foot residence with views of Long Island Sound on Morningside Avenue; a 3,600-square-foot home, expandable to 5,000 square feet on Maplewood Avenue slated for completion in the third quarter of 2014 following a demolition and total rebuild; and a third home to be built on Turkey Hill Road North on a property purchased from an estate.

The Westport transaction reflects the creative expansion by Case of its product line to offer smaller balance loans for real estate assets in the N.Y. metropolitan area. The company finances multi-family projects, land, retail, office and industrial properties in the $1 million to $25 million range and works with owners and properties throughout the Northeast and Mid-Atlantic Regions.

“Through our experience, we can expedite the process in smaller transactions as quickly and effectively as the larger deals, which is very important to borrowers,” Herrick noted. In fact, one of the principals of 13 Turkey Hill Drive LLC previously worked with a Case partner in a larger transaction which led to the Westport package.

“We make situational decisions, and in this case, we were familiar with the borrower and the opportunity in the positive and growing Westport residential market,” Herrick said. “As a result, we expect to see strong interest in the three properties and are pleased to be able to contribute to the success of the borrowers.”

Case Real Estate Capital provides a variety of financing solutions for its clients including traditional and short-term bridge loans, discounted pay-off (DPO) financing, construction financing, and first- and second-mortgage financing. The firm’s funding ranges from short timeframes to extended, complex transactions and restructurings. In addition, Case purchases performing, sub-performing and non-performing real estate-secured notes, judgments and liens to individuals and entities.

Each loan is evaluated on its own merits, based on the borrower’s unique situation, local market conditions and the collective expertise of Case’s in-house investment and origination professionals. The company also offers opportunities for local entrepreneurs. Case’s investor base is extremely diverse, including individuals, family offices and institutional investors.

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