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.

SOURCE Capstone Equities, LLC