NEW YORK, Jan. 28, 2014 /PRNewswire/ — Madison Realty Capital (MRC), an institutionally-backed commercial real estate investment firm specializing in flexible debt financing solutions for middle-market transactions throughout the United States, announced that the company exceeded $500 million in total debt investments throughout 2013. In addition, the company acquired direct equity investments totaling over $250 million in total capitalization over the past year. MRC's debt investment platform focuses on new loan originations for time-sensitive transactions and the acquisition of non-performing loans and loan portfolios.
Joshua Zegen, Co-Founder and Managing Member of MRC, made the announcement.
"2013 was another successful year for Madison Realty Capital as we solidify our position as an industry leader in both debt and equity investments for the middle-market," Mr. Zegen said. "Our track record in delivering reliable solutions to debt buyers and sellers has allowed us to maintain a steady flow of transactions secured through new and repeat business. We expect an even stronger performance in 2014 as we continue to seek financing and loan acquisition opportunities throughout New York City, as well as look to expand our geographic area into new markets that meet our investment criteria."
Highlights of MRC's 2013 activity include the following:
- $50 million loan to recapitalize Victoria Towers mixed use project in Flushing, Queens.
- $40.15 million in financing for hotel project at New York's Hudson Yards.
- $37 million in financing for completion of redevelopment project in Williamsburg, Brooklyn.
- $31.0 million financing for industrial to office conversion in Brooklyn's Clinton Hill neighborhood.
- $27 million in construction financing on the Paper Factory hotel in Long Island City.
- $24.48 million principal balance loan portfolio purchased from major savings bank.
- $13 million purchase of defaulted note on condo development in Clinton Hill, Brooklyn.
About Madison Realty Capital (MRC)
Founded in 2004, Madison Realty Capital is an institutionally-backed commercial real estate firm specializing in flexible debt financing solutions for middle-market transactions throughout the United States and equity investments in the New York metropolitan area. MRC invests in the multifamily, retail, hotel, office and industrial sectors and has completed $1.6 billion of debt transactions in 28 states to date. MRC's vertically integrated platform encompasses origination, servicing, asset management, property management and construction management expertise to maximize the value of its investments.
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