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Madison Realty Capital Originates $278.5 Million Construction Loan for Three Multifamily Projects and Luxury Condominium in Austin, Texas

NEW YORK, June 08, 2021 (GLOBE NEWSWIRE) — Madison Realty Capital, a fully integrated real estate private equity firm focused on debt and equity investment strategies, today announced it has provided a $278.5 million construction loan for a portfolio of four assets located in Austin, Texas to Reger Holdings, LLC, a New York–based real estate investment and development company led by CEO Gordon Reger, a third–generation member of the Reger/Mader family who founded the company.

The portfolio is comprised of two mixed–use multifamily properties and 317 acres of entitled land with plans to develop 1,264 multifamily residential units, known as the EastVillage, located along the Parmer Lane tech corridor in northeast Austin and a luxury condominium in downtown Austin known as The Linden Residences. Reger Holdings contributed significant cash equity for the construction.

Josh Zegen, Managing Principal and Co–Founder of Madison Realty Capital, said, "This transaction highlights Madison Realty Capital's solutions–oriented approach and unique ability to serve as a single source financing provider to a highly reputable borrower. Austin is a rapidly growing, vibrant city experiencing exceptional economic growth but faces high barriers to entry. The Parmer Lane tech corridor is home to some of the most prominent Austin employers and some of the nation's most innovative companies, including Tesla, Apple, Samsung, Oracle, Dell, Facebook, and 3M. However, the city is facing an undersupply of the high–quality housing options that employees in the Parmer Lane tech corridor demand. We look forward to working with Reger, a best–in–class developer with a strong balance sheet, to complete future phases of development in Austin and continue to identify attractive opportunities for our investors and partners throughout Texas and the Southwest."

"Madison Realty Capital's senior financing for the EastVillage and the Linden marks an exciting milestone for both projects," said Gordon Reger. "We are pleased to work with a single capital source that has the flexibility to finance these diverse projects."

The mixed–use residences are comprised of two development sites across 29 acres within the over 400–acre master site planned for the EastVillage. The first EastVillage development will offer 312 luxury apartment units across six garden–style apartment buildings with top–tier amenities, including a fitness center, courtyard, dog grooming station and swimming pool. The second EastVillage development will consist of an additional 422 one–, two– and three–bedroom apartment units with state–of–the–art finishes, fitness center, game room, yoga studio, and 143,000 square feet of commercial space. Future phases of development for EastVillage involve 317 acres of land approved for 1,264 multifamily units, 240 hotel keys and over one million square feet of commercial space. The EastVillage is adjacent to Samsung's Semiconductor chipmaking plant, one of Austin's largest employers, which recently announced plans to expand with a $17 billion chipmaking facility.

Located at 313 West 17th Street in downtown Austin near the State Capital and the University of Texas at Austin, The Linden Residences is a 28–story luxury condominium project that will offer 117 one– to three–bedroom units, 5,196 square feet of ground floor retail and 251 parking spaces. The amenity rich units have been substantially sold to date.

Newmark Executive Managing Director David Douvadjian, Senior Managing Director, Brian Butler, and Director, David Douvadjian, Jr., served as advisors to Madison Realty Capital in the deal.

About Madison Realty Capital

Madison Realty Capital is a New York City based real estate private equity firm focused on debt and equity investment strategies with regional offices in key markets including Los Angeles and Dallas. Founded in 2004, MRC has closed on approximately $14 billion of transactions in the multifamily, retail, office, industrial and hotel sectors nationwide. The firm manages investments in the United States on behalf of a global investor base. MRC is a fully integrated firm with over 60 employees across all real estate investment, development, and property management disciplines. 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. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.

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King Abdullah University of Science and Technology taps Canonical for cloud computing overhaul

THUWAL, Saudi Arabia, June 08, 2021 (GLOBE NEWSWIRE) — Canonical, the publisher of Ubuntu, announced today that it is working with King Abdullah University of Science and Technology (KAUST), a postgraduate university in Thuwal, Saudi Arabia, on a major upgrade of its cloud computing infrastructure. The project makes it easier and more economical for KAUST to manage its cloud environment while ensuring the high levels of computing performance that researchers need.

Even by the standards of most universities, KAUST's computing requirements are intense. The institution is dedicated exclusively to scientific and technological research, with all students undertaking PhD or master's studies. Its network must be able to support a wide variety of workloads without downtime.

Since 2015, the university had been operating a homegrown OpenStack private cloud in which researchers provisioned computing resources on demand. But as usage grew, the system became harder for the IT team to manage. Worse, it was prone to outages, which slowed projects and, once complete, made it harder for peer reviewers to access project data.

"If we were going to scale up, we knew we needed a strategy that was more manageable, more reliable, and made it easier to implement upgrades and new services," said Arindam Chakraborty, Senior Systems Specialist at KAUST. "We began exploring infrastructure–as–code, and we realized that the best option would be to switch to a trusted third–party platform with dedicated support."

KAUST chose Canonical to design and implement a new, on–premises OpenStack cloud. Based on Canonical's Charmed OpenStack, the new cluster is twice the size of the old system, going from 10 to 20 nodes. And with Ubuntu Advantage for Infrastructure support, Canonical prevents or rapidly resolves any OpenStack issues that KAUST encounters, before they affect research.

Another benefit is that the new deployment has caused no operational disruption or need to learn a new system. That's because the university's legacy OpenStack platform was already using Canonical's open–source software, and Ubuntu was by far the most widely used operating system on campus.

"Canonical offered the best server/annum cost on the market for the level of support we were looking for, and we are very pleased with the results," Chakraborty said. "The change has meant increased performance and improved uptime for our students and staff. And with Canonical handling implementation and operational issues, our IT team is free to work on other things. Problems are resolved more quickly, and from a manpower perspective, we're saving money."

Alongside the OpenStack migration, KAUST also has transitioned to DevOps and containers with Canonical's Charmed Kubernetes, a turnkey, Kubernetes–conformant platform optimised for multi–cloud environments.

Adopting Kubernetes has transformed the way that KAUST researchers access computing resources. Rather than self–provisioning virtual machines, users can simply consume services via the cloud without having to worry about where or how they are running. Canonical's support covers Kubernetes as well.

"We're delighted to be working with King Abdullah University of Science and Technology," said Nicholas Dimotakis, VP of Field Engineering, Canonical. "The university's experience shows that organizations don't have to struggle with their cloud implementations and that, by selecting the right technology partner, they can operate their infrastructure far more economically while enhancing computing performance."

About King Abdullah University of Science and Technology
Established in 2009, King Abdullah University of Science and Technology (KAUST) is a graduate research university devoted to finding solutions for some of the world's most pressing scientific and technological challenges in the areas of food, water, energy, and the environment. With 19 research areas related to these themes and state–of–the–art labs, KAUST has created a collaborative and interdisciplinary problem–solving environment, which has resulted in over 11,000 published papers to date.

With over 100 different nationalities living, working and studying on campus, KAUST has brought together the best minds and ideas from around the world to advance science and technology through distinctive and collaborative research. KAUST is a catalyst for innovation, economic development, and social prosperity in Saudi Arabia and the world. For additional information, visit: www.Kaust.edu.sa

About Canonical
Canonical is the company behind Ubuntu, the leading OS for container, cloud, and hyperscale computing. Most public cloud workloads use Ubuntu, as do most new smart gateways, switches, self–driving cars and advanced robots. Canonical provides enterprise security, support, and services to commercial users of Ubuntu. Established in 2004, Canonical is a privately held company.

Contact:
Cathy Wright
Offleash on behalf of Canonical, the publisher of Ubuntu
canonical@offleashpr.com


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