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Special Reports
Hard Money
Mercury Sees Further Growth Potential
By Amilda Dymi
Mercury Capital U.S.A., LLC a commercial real estate investment mortgage lending
company is riding a wave of growth and looking forward to another successful year in 2009.
When it comes to effective commercial lending, Mercury Capital principal Meir
Kringel says, "It's not a matter of being creative. It's a question of understanding the property, understanding
the deal and what needs to be done to make the deal happen." "We're excited about this market and we
are looking forward to the rest of the year and 2009. We're positioning ourselves to grow further in different
markets throughout the country. We're looking forward to growth year-over-year from 2008 to 2009."
Mr. Kringel prefers not to make guessing predictions about what the future holds.
Asked whether he expects 2009 will be another profitable year for the commercial real estate marketplace, he said:
"It's going to be different."
"There are a lot of unknowns in the market but we feel that we're positioning
ourselves to be a good source of capital for owners, buyers and brokers across the country."
The company, which has almost 20 years of experience in the commercial lending
marketplace, provides a unique lending option, executives said. According to Mr. Kringel, Mercury Capital is specialized
in offering traditional hard money lending options on one-year or two-year terms, "giving owners a chance
to reposition their properties and close quickly on opportunistic acquisitions."
Currently, he said, it is a great market for that specific product. "We have
seen an uptake in requests."
As to reasons why there is demand growth in this area, he maintained that currently,
"lenders are either not able or not willing to extend loans that have not been maturing so we find that people
come to us for loans that are maturing and need to be taken out."
Among specific market highlights, he noted for example that while New York is
still holding its values, Mercury Capital is looking for deals all across the country. "We feel there are
opportunities for us over the next 12 to 24 months," he said, and in all types of properties.
Loan amounts range from $1 million to $20 million.
Since 1989 Mercury Capital focuses primarily on collateral financing transactions
that require immediate funding. It operates nationally and is specialized in direct bridge lending secured by a
wide range of commercial property types.
Often complex transactions are needed to either solve a problem or to facilitate
an opportunity financing option. Tending to the latter, the company said, even though it is open to various opportunities
Mercury Capital has focused on scenarios in which it has proven expertise such as gap/bridge financing, foreclosure
workouts, bankruptcy resolutions, discounted mortgage buybacks, unpaid tax remittances, and short fuse opportunity
financing - or other transactions that can be closed fast.
Mercury Capital is open to and maintains long-term relationships with a network
of outside mortgage brokers, mortgage bankers, attorneys, accountants and others operating in the nonconforming
financing market. "We encourage brokers all over the country to submit deals to us," Mr. Kringel said.
"We do not require them to sign up with us, and we don't require correspondents. We deal with brokers all
over."
Furthermore, he added, "We pride ourselves for our honesty, integrity and
ability to understand deals."
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