PCCP LLC Provides Loan to East River Partners LLC for Purchase and Renovation of Three Buildings in Upper West Side of New York, NY

                                          272, 274 and 276 West 86th Street,
                                          Upper West Side of New York, NY 

 New York, NY, April 19, 2013 - PCCP, LLC announced today it has provided a senior loan to an affiliate of East River Partners, LLC for the acquisition and renovation of three multifamily buildings.

John Randall

The buildings total approximately 21,500 square feet and are located in the Upper West Side of New York, NY at 272, 274 and 276 West 86th Street.

“East River Partners is an experienced real estate investment and development firm focused on purchasing existing buildings in New York City and rehabbing them into rental or condominium homes,” said John Randall, senior vice president with PCCP, LLC out of the firm’s New York City office.

 “The opportunity is a good match with our lending appetite, and this loan represents a favorable basis for PCCP in the highly desirable Upper West Side where there is a scarce amount of newer housing product.”

The property consists of three architecturally attractive, contiguous mid‐block buildings built in 1909. The buildings are situated between Broadway and West End Avenue on the south side of the two‐way West 86th Street. Two of the three buildings are currently vacant and the third building has minimal occupancy.

Morrison & Foerster LLP represented PCCP, LLC.  Cooper-Horowitz arranged the financing.

 For a complete copy of the company’s news release, please contact:

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

www.pccpllc.com.