DERBY COPELAND CAPITAL PROVIDES $3.6M ACQUISITION AND RENOVATION FINANCING FUNDING FOR CARROLL GARDENS PROPERTY
Derby’s Investment Platform Expands Coverage of
New York City Middle-Market Properties with Latest Loans
NEW YORK, NY, November 21, 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 $3.6 million – to provide acquisition and renovation financing funding for the property located at 84 1st Place in Carroll Gardens, Brooklyn.
The loan was provided to Peak Capital Advisors (“Peak”) for their acquisition and renovation project at 84 1st Place. The loan structure includes a senior loan of $3.4 million, funded at closing, and a building loan of up to $190,000 to cover renovation costs.
The property encompasses a total of 5,260 gross square feet, comprising five apartments across five stories. The property is ideally situated between Clinton Street and Court Street, only a four-minute walk from the entrance to the Carroll Street subway station. This location offers convenient access to Manhattan, Queens, and other highly desirable Brooklyn neighborhoods.
“Derby Copeland Capital remains committed to uncovering compelling investment opportunities backed by middle-market assets in the dynamic New York City market. As a dependable capital partner for property owners during this challenging period for regional banks, we take pride in our role. Our confidence in New York City's real estate is unwavering as we navigate and leverage the evolving opportunities within this vibrant landscape,” 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. The firm is a private middle-market investor in New York City, having invested in over $1.7 billion [2] of New York City real estate since inception in 2015.
[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.[2] The $1,700,000,000 is an aggregate amount measured from May 2015 through October 31, 2024 across all strategies and a variety of Derby Copeland Capital vehicles.