DERBY COPELAND CAPITAL PROVIDES $128M ACQUISITION FINANCING AND RENOVATION FUNDING FOR EAST VILLAGE PROPERTIES
Derby’s Investment Platform Expands Coverage of
New York City Middle-Market Properties with Latest Loans
NEW YORK, August 6, 2024 – Derby Copeland Capital (DCC), a vertically integrated New York City-based real estate investment platform specializing in opportunistic real estate related debt financing and equity investments, recently closed a loan– totaling $128.2 million – to provide acquisition financing and renovation funding for nine properties in Manhattan’s East Village neighborhood.
The Loan was made in connection with Ryco Capital’s acquisition of a portfolio of multifamily buildings that are concentrated on Second Avenue in the East Village neighborhood of Manhattan. The Properties that collateralize the Loan are comprised of nine buildings, approximately 161,413 gross square feet (“GSF”) consisting of 170 residential units and 23 retail units, including 145-147 Second Avenue, 149 Second Avenue, 151-153 Second Avenue, 141 Second Avenue, 157 Second Avenue, 156 Second Avenue, 127 Second Avenue, 129 Second Avenue, and 26 Saint Marks Place. The loan includes approximately $23,500,000 in connection with the borrower’s plans to renovate residential components of the buildings.
The firm was highly active in the Manhattan and Brooklyn markets in June and July of 2024, originating over $180 million in loans secured by properties in the East Village, Upper West Side, Hell’s Kitchen, Park Slope, and Brooklyn Heights.
“Derby Copeland Capital continues to identify exciting investment opportunities secured by middle-market assets in the vibrant landscape of New York City. We pride ourselves on being a reliable capital partner to property owners during this complex time for regional banks. Our belief in New York City's real estate remains steadfast as we continue to navigate and capitalize on the dynamic opportunities within this thriving market,” said Jesse Hutcher, Founding Principal and Chief Investment Officer of Derby Copeland Capital.
About Derby Copeland Capital
Derby Copeland Capital [1] is a vertically integrated New York City-based real estate investment platform specializing in opportunistic real estate related debt financing and equity investments.
[1] Derby Copeland Management Group, LLC (d/b/a Derby Copeland Capital) is a registered investment adviser. Information presented is for marketing purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. All persons should first consult with a qualified financial adviser and/or tax professional before implementing any strategy. Past performance is not indicative of future performance.