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$3,100,000 : 22 Unit Apartment Building, Hollywood, FL
New York based Mercury Capital Corporation, a bridge financing institution, is pleased to announce that it has recently funded a one-year $3,100,000 first mortgage secured by a 22 Unit apartment building located in Hollywood, Florida.
As the final piece of a nine parcel project, our borrowers needed speed to close this time of the essence transaction. That’s when they turned to Mercury. Our financing allowed the borrower to close on this property within 10 business days completing the acquisition of a full city block,” explained Marc Gleitman, President at Mercury Capital. Mercury provided a blanket mortgage securing both the newly acquired property and existing lots the borrower already owned.
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 $15,000,000.
For more information please contact Mercury at 212.661.8700
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