Madison Realty Capital Closes More Than $2.2 Billion in Originations and Note Purchases in 2019

NEW YORK, Jan. 13, 2020 (GLOBE NEWSWIRE) — Madison Realty Capital (MRC) announced that it closed over $2.2 billion in financing and note purchases in 2019. The nationwide transactions, between $7.8 million and $345 million, touched all major asset classes and included deals in New York, New Jersey, Texas, Florida, California, Washington and Massachusetts. MRC's second consecutive $2 billion–plus year and continued national expansion was bolstered by the firm's strong relationships with repeat borrowers""which accounted for more than half of total dollar volume""and several transactions with world–renowned sponsors including Four Seasons, Mandarin Oriental and Raffles. 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 in 2019 included:

  • $345 million loan for a portfolio of stabilized multifamily assets, and the construction of a luxury mixed–use rental building in Beverly Hills, CA.
  • $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.
  • $210 million loan for the development of the Four Seasons Hotel and Private Residences in Fort Lauderdale, Florida.
  • $168 million collateralized by the Emerson Lofts, a planned 1,000–unit mixed–use multifamily development project in Jersey City, New Jersey.
  • $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.
  • $35.1 million in financing for the completion of two separate construction projects in Beverly Hills and San Diego, CA.
  • $32.5 million to finance the acquisition of a mixed–use development site in the Turtle Creek neighborhood of Dallas, Texas.
  • $30 million first mortgage for a mixed–use development at the site of the former RKO Keith's Theater in Queens, NY.

"We are very pleased to have closed out yet another $2 billion–plus year, a reflection of our strong existing relationships and several transactions completed with globally recognized sponsors," said Josh Zegen, Co–Founder and Managing Principal of MRC. "The deals closed with names such as Four Seasons, Mandarin Oriental and Raffles in 2019 show that we are having a growing influence across the globe thanks to our unparalleled expertise and execution, which we've fine–tuned over the course of 15–plus years in business. We look forward to continuing our national expansion in 2020 and another decade of success."

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 with regional offices in key markets including Los Angeles and Dallas. Founded in 2004, MRC has closed on approximately $12 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. 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.

Media inquiries, contact
Great Ink Communications: (212) 741–2977
Tom Nolan "" tom@greatink.com
Al Barbarino "" al@greatink.com

Madison Realty Capital Provides $210 Million Construction Loan for Four Seasons Hotel and Private Residences in Fort Lauderdale

NEW YORK, Dec. 11, 2019 (GLOBE NEWSWIRE) — Madison Realty Capital (MRC) originated a $210 million construction loan for the development of the Four Seasons Hotel and Private Residences located at 525 North Fort Lauderdale Beach Boulevard in Fort Lauderdale, Florida.

MRC sourced the deal directly with high–profile developer Fort Partners, which will use the financing to complete vertical construction on the 22–story development. The property will feature 148 hotel rooms and 83 residential condominium units, of which 60 percent have been presold.

"This highly reputable sponsor has extensive expertise in real estate development and management along with a long track record of success with luxury residential, hospitality, and mixed–used projects," said Josh Zegen, Co–Founder and Managing Principal of MRC. "The relative dearth of five–star hotels and luxury residential units of this quality in Fort Lauderdale also drew us to the project. As demonstrated by the outstanding presale success and strong local reception, we anticipate that the property will become a landmark Fort Lauderdale attraction."

The property is situated on an entire block""surrounded by Viramar Street to the south, Windamar Street to the north, A1A to the east, and Breakers Avenue to the west""in a prime tourist and residential location. Due to Fort Lauderdale's high development costs, laborious entitlement process and lack of developable land, new additions to Fort Lauderdale's hotel supply are rare, with just four five–star hotels throughout the entire city.

In addition to unparalleled amenities and interior unit finishes, the property will boast 200 linear feet of frontage along Florida's southeastern coast, giving guests and condo owners sweeping panoramic views of the Atlantic Ocean. First–class amenities will include multiple infinity pools with unobstructed ocean views, five–star restaurants, ballrooms, meeting spaces, a fitness center, first class spa center and valet parking.

Once known as a tourism–based economy, Fort Lauderdale today supports a diverse range of industries and is home to over 200 corporate and international regional headquarters. The city's waterfront is lined with upscale outdoor restaurants, bars and boutiques, while local attractions include the International Swimming Hall of Fame and Hugh Taylor Birch State Park.

The property marks the fourth Four Seasons development for Fort Partners, which holds the exclusive right to develop Four Seasons–branded properties in Florida and other markets. The previous developments include the Surf Club Four Seasons Hotel and Residences in Surfside Florida; the Four Seasons Hotel Palm Beach; and the upcoming Four Seasons Marbella, Spain.

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 with regional offices in key markets including Los Angeles and Dallas. Founded in 2004, MRC has closed on approximately $12 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. 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.

Media inquiries, contact
Great Ink Communications: (212) 741–2977
Tom Nolan "" tom@greatink.com
Al Barbarino "" al@greatink.com

Madison Realty Capital Provides $76 Million in Financing for Mixed-Use Property at 85 Flatbush Avenue

NEW YORK, Sept. 25, 2019 (GLOBE NEWSWIRE) — Madison Realty Capital (MRC) provided a $76 million financing package that included both an MRC senior loan and additional mezzanine financing from Bluestone Group to fund the acquisition of a 12–story, 177,966–square–foot mixed–use building located at 85 Flatbush Avenue in Downtown Brooklyn. The recently constructed property includes the boutique Tillary hotel, featuring 176 rooms as well as a ballroom, restaurant, and a bar/lounge, and an attached 64–unit luxury multifamily building. The property also includes a separate parking garage.

The time–of–the–essence loan allowed this repeat MRC borrower, a partnership comprised of experienced regional developers Isaac Hager and Lipa Rubin, to complete the acquisition and cover all closing costs associated with the transaction.

"MRC's lending expertise and familiarity with the downtown Brooklyn market allowed us to quickly underwrite this transaction for the borrower and deliver on a time–of–the–essence closing schedule," said Josh Zegen, Co–Founder and Managing Principal of MRC. "We are pleased to provide the necessary funding for this well–positioned asset that benefits from the neighborhood's increased residential and commercial development and continued demand for professional services throughout the area."

The property was built in 2016 and is located on the corner of Flatbush Avenue Extension and Tillary Street, just off the base of the Manhattan Bridge within walking distance of several local attractions, most notably the Barclays Center. The hotel and residential components have separate designated entrances and function independently with some shared amenities that include a fitness center, boutique cafe, business center, meeting center, multiple roof decks and outdoor space, and parking.

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. 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.

Media inquiries, contact
Great Ink Communications: (212) 741–2977
Tom Nolan "" tom@greatink.com
Al Barbarino "" al@greatink.com