8A — September 12 - 25, 2014 — M id A tlantic
Real Estate Journal
www.marejournal.com
F inancial D igest Private direct lender and investor now buying debt Case purchases $5.4m senior note for 100,000 s/f foreclosure K EARNY, NJ — C ase Real Estate Capi- tal, LLC (Case) , an ments and liens as well as distressed, vacant and REO properties. ways and excess truck park- ing. Initially constructed in the 1960s, the facility has undergone several stages of additions.
Recently Closed Loans
“This site is part of the strong Meadowlands and port submarkets,” said Jon Leifer , director-acquisitions for Case. “We believe that we have the opportunity to resolve this situation quite quickly. The transaction dove- tails well with Case’s core competencies – surety of ex- ecution and resolution as well as expertise in the New York/ New Jersey marketplace.” Set on more than five acres, the building includes a large truck court, loading entry-
active private direct lender and investor from Rochelle Park, NJ, has purchased a $5.4 million seni or note a n d f i n a l
Lakeland Bank announces employee awards OAK RIDGE, NJ –– Lake- land Bank recently honored three employees with the Em- ployee of the Quarter Award. Christine DeMeyere , Ve- ronica Trezza and Bette Van Der Toorn were presentedwith the award based on nominations submitted by their colleagues. “Congratulations to Chris- tine, Veronica and Bette for their exceptional service,” said Thomas Shara , president and CEO of Lakeland Bank. “We appreciate the commitment and dedication they demonstrate to our customers, our bank and the communities we serve.” DeMeyere joined the Bank in 2009 as a part-time teller in the Rochelle Park Office and accepted a full-time position in the Teaneck Office in 2010. She transferred to Park Ridge as a teller manager in 2011, and is now a personal banking consultant. Trezza joined the Bank in 2013 as human resource assis- tant in the human resources department located at the corporate headquarters in Oak Ridge. VanDerToorn joined theBank in 1987 as an adjustment clerk in the deposit operations depart- ment and in2004 she transferred to her current position of regional administrative assistant for the Southern Region. n “Case is actively pursuing other non-performing note acquisitions in the $5 million to $10 million range, and we expect to close on several more deals in the near term,” said Sandy Herrick , co-founder and managing principal of Case. The company will con- sider residential and com- mercial real estate, including niche properties, primarily in the New York metropolitan area as well as the Northeast and Mid-Atlantic regions. n Case is prepared to acquire individual or pooled note amounts with unpaid bal- ances of up to $25 million and properties valued up to $25 million. Note transactions below $500,000 will be con- sidered if there is appropriate note resolution potential.
$5,662,000
$2,100,000 $9,600,000
216-unit Multi-Family Portfolio 10-Unit Mixed Used Portfolio
57,000 SF Office Building
Tulsa, OK Philadelphia, PA Dover, DE 75% LTV 10/30 loan 4.63% non-recourse 75% LTV 5/30 loan 4.25% 75% LTV 10/30 loan 4.83% non-recourse
Real Property Capital is a Philadelphia based full service commercial mortgage banking firm with a regional focus and national capabilities. Our business model emphasizes client satisfaction through a high-touch, analytical approach that distinguishes us from the competition. Learn more about our distinct approach and proven track record of success at www.realpropertycapital.com. FOR MORE INFORMATION: R. Brenner Green, President 75 East Butler Avenue • Ambler, PA 19002 • 610-456-9644 • bgreen@realpropertycapital.com
judgment of foreclosure on a 100,000 s/f industrial building in Kearny. With its expansion of services in June, Case is now purchasing performing, sub- and non-performing real- estate secured notes, judg- Sandy Herrick
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