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Case Real Estate Capital Purchases $5.4 Million Senior Note and Final Judgment of Foreclosure on 100,000-Square-Foot Industrial Building in Kearny, N.J.

| July 30, 2014 | 0 Comments
Sandy Herrick

Sandy Herrick

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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: Wednesday, July 30, 2014
Media Contact: Caryl Bixon-Gordon (201) 796-7788

With Recent Expansion of Services, Private Direct Lender and Investor Now Buying Debt

ROCHELLE PARK, N.J., July 30, 2014 – Case Real Estate Capital, LLC (Case), an active private direct lender and investor from Rochelle Park, N.J., has purchased a $5.4 million senior note and final judgment of foreclosure on a 100,000-square-foot industrial building in Kearny, N.J. With its expansion of services in June, Case is now purchasing performing, sub- and non-performing real-estate secured notes, judgments and liens as well as distressed, vacant and REO properties.

“This site is part of the strong Meadowlands and port submarkets,” said Jon Leifer, director-acquisitions for Case. “We believe that we have the opportunity to resolve this situation quite quickly. The transaction dovetails well with Case’s core competencies – surety of execution and resolution as well as expertise in the New York/New Jersey marketplace.”

Set on more than five acres, the building includes a large truck court, loading entryways and excess truck parking. Initially constructed in the 1960s, the facility has undergone several stages of additions.

Case Actively Pursuing Non-Performing Note Acquisitions
At Case, each debt and property acquisition or loan is evaluated on its own merits, based on the seller’s or borrower’s unique situation, local market conditions and the broad experience of Case’s in-house investment and origination professionals. Case is prepared to acquire individual or pooled note amounts with unpaid balances of up to $25 million and properties valued up to $25 million. Note transactions below $500,000 will be considered if there is appropriate note resolution potential.

“Case is actively pursuing other non-performing note acquisitions in the $5 million to $10 million range, and we expect to close on several more deals in the near term,” said Sandy Herrick, co-founder and managing principal of Case. The company will consider residential and commercial real estate, including niche properties, primarily in the New York metropolitan area as well as the Northeast and Mid-Atlantic regions.

In early 2013, Herrick founded Case with Scott Hartstein as a middle-market situational lending platform targeting transitional assets extending beyond the traditional lending area. The company offers dependable financing solutions for all asset types as well as other short-term financing needs borrowers require.

Case 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 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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