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
TheStreet Open House

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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,050.22 -21.00 -0.12%
S&P 500 1,976.88 -0.92 -0.05%
NASDAQ 4,503.6370 -2.2150 -0.05%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs