Hudson Realty Capital LLC Funds $11.6 Million Pittsburgh Office/Retail Bridge Loan

Real Estate Fund Manager Meets Borrower's Need for Speed and Surety. End Quote

Pittsburgh, PA (1888PressRelease) January 18, 2013 - Hudson Realty Capital LLC, a New York City-based real estate fund manager with more than $2 billion in assets currently under management, has funded an $11.6 million Pittsburgh office/retail bridge loan secured by a 70,478-square-foot property. The sponsor plans to utilize the capital to retire the existing debt, complete renovation of the asset, satisfy outstanding obligations and establish reserves.

Located within a few miles of the University of Pittsburgh and Carnegie Mellon University, just north of the exclusive Shadyside neighborhood, the property is undergoing a comprehensive gut rehabilitation. The sponsor has finalized four signed leases, with one of the tenants already in occupancy.

"This borrower required dependable financing for base building construction and tenant fit out, which Hudson was able to provide with surety of execution in a relatively short timeframe," said Spencer Garfield, managing director. "Given this submarket's low office vacancy rate, timely lease-up of the remaining space is expected in accordance with the business plan."

As a leading provider of middle-market capital, Hudson is focusing on transitional assets nationwide. The real estate fund manager is targeting all property types, including multi-family, office, retail, industrial and hospitality, in the $3 million to $35 million per-asset range. The company's latest transactions involve new originations, note acquisition financing, DPO financing and performing and non-performing loan purchases.

Established in 2003, Hudson has closed more than $3.5 billion in transactions since the formation of its initial two funds. Activities include originating, purchasing, participating in, servicing and restructuring special-situation debt. Hudson also invests directly in real estate and acquires under-performing assets and other real estate-related instruments.

Headquartered in New York City, Hudson maintains regional offices in Portland, Maine and Fort Myers, Florida. The company has been named among the New York area's largest privately held companies and largest minority-owned companies, as well as one of the Top 25 lenders nationally.

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