NEW YORK, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Madison Realty Capital, a New York City-based real estate private equity firm focused on debt and equity investment strategies, today announced that it successfully originated a $73.5 million loan for a portfolio of eight multifamily, commercial, industrial, and retail properties in New Jersey.
Located across New Jersey, the properties in the portfolio include:
- An 8.7 acre residential, commercial and self-storage development site in Harrison located adjacent to the Harrison Port Authority Trans-Hudson (PATH) train station and a short ride to New York City.
- Three best-in-class mixed-use industrial assets located in Harrison, Kearny and Boonton.
- A Class-A flexible industrial building leased long-term to a blue-chip tenant.
- A net lease retail property in Harrison with a credit tenant.
- Two parcels of land totaling 8.1 acres in Kearny and Brick.
“We are pleased to provide a flexible and innovative financing solution to a highly respected, credit-worthy local borrower for a diverse set of multifamily and industrial properties,” said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital. “The New Jersey submarkets where these assets are located are experiencing surging demand for storage, manufacturing and distribution use and we are excited to provide the financing that will support these businesses. This transaction is emblematic of Madison Realty Capital’s ability to support local borrowers by delivering certainty and execution in a timely manner.”
Glenn Thomas and Thomas Ravert of Pathway Capital Corporation, which specializes in customized lending solutions for complex and time-sensitive scenarios, arranged the loan.
About Madison Realty Capital
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 $13 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.
