Deals included all major asset classes and stretched across six US states
NEW YORK, July 26, 2019 (GLOBE NEWSWIRE) — Madison Realty Capital (MRC) announced that it closed over $1.3 billion in financing and note purchases year-to-date in 2019. The nationwide transactions, between $21.4 million and $314 million, touched all major asset classes and included deals in New York, New Jersey, Texas, Florida, California and Massachusetts. The firm’s debt investment platform focuses on originating senior-secured loans, mezzanine loans and preferred equity investments in the middle-market as well as performing note purchases and acquiring non-performing loans.
Highlights throughout 2019 included:
- $314 million construction loan on the Raffles Boston Back Bay Hotel & Residences, a mixed-use project in Boston’s Back Bay neighborhood
- $225 million construction loan on The Residences at Mandarin Oriental, Boca Raton, a planned luxury condominium tower in Boca Raton, Florida
- $138 million financing package for a mixed-use development at 300 West 122nd Street in the West Harlem neighborhood of Manhattan
- $72 million first mortgage for The Ray, a 141-room hotel and retail development in Delray Beach, Florida
- $53 million construction loan on a mixed-use development in the Washington Heights neighborhood of Manhattan
- $50 million first mortgage for a mixed-use condominium development in the Broadway Triangle neighborhood of Brooklyn, NY
- $30 million first mortgage for a mixed-use development at the site of the former RKO Keith’s Theater in Queens, NY
- $28 million first mortgage on a medical office building located in The Heights neighborhood of Houston, Texas
“We continue to see a steady pipeline of opportunities with little-to-no signs of a slowdown,” said Josh Zegen, Co-Founder and Managing Principal of MRC. “Our national expansion is well underway as our lending programs continue to attract premier sponsors in major markets across the United States. Funding projects with world renowned names such as Mandarin Oriental and Raffles also indicates that our capabilities are having a growing influence across the globe. We are very pleased with a very robust first half of 2019 and we believe our rare combination of expertise, speed and certainty of execution will contribute to even greater success in the second half of this year.”
About Madison Realty Capital (MRC)
Madison Realty Capital (MRC) is a New York City-based real estate private equity firm focused on debt and equity investment strategies. Founded in 2004, MRC has closed on approximately $11 billion of transactions in the multifamily, retail, office, industrial and hotel sectors. The firm manages investments in the United States on behalf of a global investor base consisting of corporate and public pension funds, sovereign wealth funds, university endowments, foundations, fund of funds, family offices, and high net worth individuals. MRC is a fully integrated firm with over 60 employees across all real estate investment, development, and property management disciplines. Debt strategies include construction and acquisition lending, special situation financing and debt acquisitions; equity real estate strategies include opportunistic and value-add investments as well as ground-up development. Among other industry recognitions, MRC has been named to the Commercial Observer’s prestigious “Power 100” list of New York City real estate players and is consistently cited as one of the industry’s top construction lenders.