Emerald Creek Capital (ECC), a real estate finance firm based in New York City, procured a $110 million revolving line of credit from M&T Bank, BankUnited and Webster Bank. Mark Penna, co-founder and managing partner of Emerald Creek Capital, and Lauren Petrozziello, managing director for the company, facilitated the deal. The line of credit, secured by commercial real estate senior mortgages, contains an option to be increased to $150 million at the lenders’ discretion.
“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,” Penna said.
“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,” Celeste Burgos, senior vice president of M&T Bank, said.
“We’re pleased to support the continued growth and success of a valued client relationship,” Elvis Grgurovic, managing director with Webster Bank, said.
