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$3,000,000 : Ten Residential Lots, Falmouth, MA
New York based Mercury Capital Corporation, a bridge financing institution, is pleased to announce that it has recently funded a two-year $3,000,000 blanket first mortgage secured by ten (10) residential lots and a 12-unit residential building in Falmouth, Massachusetts.
"Faced with a time of the essence closing, our borrower turned to Mercury Capital to assist with a unique property acquisition. Responding with characteristic flexibility and speed, Mercury provided a blanket mortgage securing both the to-be-acquired property and an existing residential building which the borrower already owned. Utilizing the additional equity provided by this collateral, Mercury was able to provide an aggressive Loan to Value on the acquisition," explained Marc Gleitman, President at Mercury Capital.
Mercury Capital Corporation, founded in 1989, offers borrowers an immediate financing alternative for short-term needs. Gap/Bridge financing, discounted mortgage buybacks, unpaid tax remittances, foreclosure workouts, bankruptcy resolutions and short fuse opportunity financing are all examples of transactions that can be closed with immediacy. Mercury Capital lends on commercial properties nationwide offering loan amounts ranging from $1,000,000 to $20,000,000.
For more information please contact Mercury at 212.661.8700
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