This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Capstone Equities, LLC And G Asset Management LLC Make Purchase Offer For Manhattan Bridge Capital

NEW YORK, Jan. 10, 2012 /PRNewswire/ -- Capstone Equities, LLC ("Capstone"), a New York-based real estate private equity firm that invests in public and private real estate assets, and G Asset Management, a value-oriented investment firm that specializes in public securities and special situation investing, have announced an offer to purchase Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) ("Manhattan Bridge Capital").

Headquartered in New York, Manhattan Bridge Capital offers short-term secured, non-banking loans to real estate investors to fund the acquisition and construction of properties located in the New York metropolitan area.

On December 29, 2011, Capstone and G Asset Management made an offer to purchase the company for $5.62 million, or $1.30 per share, representing a 44% premium to the then current trading price of $0.90. Capstone and G Asset Management also encouraged Manhattan Bridge Capital to hire an investment bank to find an alternative higher offer, and/or to be liquidated.

"Manhattan Bridge Capital is trading at a material discount to its liquidation value, as a result of its size and governance issues. We believe the best course of action is for the company to be taken private or liquidated," said Joshua Zamir, a managing principal of Capstone.

"To date, Capstone and G Asset Management have not received a response from Manhattan Bridge Capital," Mr. Zamir further stated.

About Capstone Equities, LLC: Capstone Equities and its subsidiaries make strategic, value added investments in real estate.  Capstone invests in underperforming commercial properties as well as public securities that present value-creating opportunities.

About G Asset Management LLC: G Asset Management is a value-oriented investment firm. The firm specializes in value-oriented public equities and special situation investing. The firm's affiliate manages a real estate fund, which includes investments in both public and private real estate related opportunities.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.40 -0.64%
FB $97.90 -1.90%
GOOG $672.01 -1.60%
TSLA $147.28 -0.48%
YHOO $26.68 -1.40%


Chart of I:DJI
DOW 15,911.52 -115.53 -0.72%
S&P 500 1,841.68 -11.76 -0.63%
NASDAQ 4,243.4680 -40.2850 -0.94%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs