New York based Mercury Capital Corporation, a bridge financing institution, is pleased to announce that it has recently originated a one-year $1,700,000 first mortgage on a 102-Unit Garden Apartment Complex located in the city of Charlotte, North Carolina. The property, located near historic Myers Park and just minutes from the central business district, is one of the premier addresses in the Piedmont Plateau.
"Mercury was able to assist in the development and execution of a unique acquisition structure, allowing the previous, long-time owners to exit the property profitably while enabling our borrowers to capitalize on this outstanding investment opportunity,” explained Adam Glick, Vice President of Originations. Mercury creatively adjusted to the continually changing and often complex needs of the borrowers, completing all necessary due diligence and processing work in a timely, considerate manner.
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 properties nationwide offering loan amounts ranging from $500,000 to $10,000,000.
For more information please contact Joel Fogel at 212.661.8700
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