Mercury Capital Corporation

Real Estate Weekly, Jan 13, 1999

New York-based Mercury Capital Corporation, a short-term mortgage lending company, has recently made a two-year, $620,000 first mortgage loan on a parking facility located on Atlantic Avenue and Pacific Street in Brooklyn, NY. The property is comprised of three lots and two structures licensed for 170 cars. The announcement was made by Mercury Capital Vice President Jonathan Daniel.

"This transaction was an opportunistic type deal," said Daniel. "The buyer was. currently leasing and operating the business at this location and, our loan enabled him to consummate an extremely complex purchase from the seller, a feuding estate in litigation. Due to an expiring contract, the purchaser needed a lender with the ability to close the deal in a very tight time-frame."

Mercury Capital Corporation, founded in 1989, offers borrowers an immediate financing alternative for short-term needs. Gap/Bridge financing, discounted mortgage buy backs, unpaid tax remittances, foreclosure workouts, bankruptcy resolutions and short fuse opportunity financing are all examples of transactions which can be closed extremely quickly. Mercury Capital lends on properties nationwide and offers loan amounts ranging from $300,000 to $10 million.