BETHESDA, Md., Aug. 21 (UPI) -- American Capital Strategies Ltd. has agreed to loan $21 million to bankrupt Berry-Hill Galleries Inc., a New York fine arts gallery.
The loan to Berry-Hill, which specializes in 18th, 19th and early 20th century U.S. paintings, is secured by Berry-Hill's Manhattan real estate and
its art inventory.
"Berry-Hill has been based in Manhattan since the 1930s and has acquired
an outstanding reputation for its expertise in early American paintings, ACS said Monday in a statement. "Its collection includes works by Winslow Homer, Frederic Church, John Singer Sargent and Jackson Pollock."
American Capital has invested approximately $4.7 billion in the last 12 months, $3 billion year to date and $549 million quarter to date.