NEW YORK City – Madison Realty Capital (MRC), an institutionally backed commercial real estate investment firm and asset manager specializing in flexible debt and equity financing solutions for middle-market transactions throughout the United States, closed over $140 million of financing and note purchase transactions in the third quarter of 2013, the company announced. MRC’s debt investment platform focuses on origination of first mortgage loans for time-sensitive transactions and acquisition of non-performing loans and loan portfolios. Joshua Zegen, Co-Founder and Managing Member of MRC, made the announcement.
“We’re seeing a steadily increasing flow of loan origination and debt purchasing opportunities that suit our middle market focus,” Mr. Zegen said. “In the third quarter we’ve enjoyed a significant amount of repeat business from both borrowers and debt sellers. Borrowers keep coming back to us because they prize the speed and certainty of execution that we consistently offer. We have the capacity to analyze and understand complex situations quickly, and close financing deals that facilitate the borrower’s vision and goals. On the debt purchasing side, our counterparties understand that we’re in a position offer the best combination of pricing, certainty of execution, and real estate expertise.”
Highlights of MRC’s third quarter 2013 activity are as follows:
$40.15 million financing for hotel project at New York’s Hudson Yards.
$31.0 million financing for industrial to office conversion in Brooklyn’s Clinton Hill neighborhood.
$24.48 million principal balance loan portfolio purchased from major savings bank.
$7.5 million loan to finance completion and opening of a 60-room boutique hotel in the Bushwick neighborhood of Brooklyn.
$7.15 million loan for recapitalization and completion of Astoria mixed-use building.