KUALA LUMPUR, July 29 (Bernama) -- Madison Realty Capital (MRC), a New York City-based real estate private equity firm has closed over US$1.3 billion in financing and note purchases year-to-date in 2019. (US$1 = RM4.12)
The nationwide transactions, between US$21.4 million and US$314 million, touched all major asset classes and included deals across New York, New Jersey, Texas, Florida, California and Massachusetts, according to a statement.
“Our national expansion is well underway as our lending programmes continue to attract premier sponsors in major markets across the United States.,” said MRC co-founder and managing principal, Josh Zegen.
“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.”
Among the 2019 highlights include US$314 million construction loan on the Raffles Boston Back Bay Hotel & Residences; US$225 million construction loan on The Residences at Mandarin Oriental, Boca Raton; and, US$138 million financing package for a mixed-use development at 300 West 122nd Street in the West Harlem neighborhood of Manhattan.
MRC’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.
-- BERNAMA
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