Madison Realty Capital Launches $ 30 Million Acquisition
NEW YORK, Sept. 24, 2021 (GLOBE NEWSWIRE) – Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced it has provided a $ 30 million loan dollars to M Development, an Aspen company that owns and develops residential and commercial real estate, to acquire a 4.27 acre mixed-use development site in Naples, Florida. The loan will be used to finance the acquisition, closing costs and pre-development of the property.
âWe are delighted to provide personalized pre-development financing to M Development for renowned residential and commercial development in Naples, one of the most luxurious and rapidly growing regions in the United States,â said Josh Zegen, Managing Director and Co-Founder of Madison Realty. Capital city. âNaples is an attractive market supported by a strong demographics, including an affluent community drawn to the trendy boutiques, gourmet restaurants, antique shops and art galleries of the city center. However, historic old Naples has a limited inventory of Class A apartments. We look forward to working with M Development on this project and together identifying new opportunities.
Brandon Tarpey, Senior Vice President of Real Estate at M Development, said: âWe chose to work with Madison Realty Capital because they have a proven track record of seamless execution across all levels of the development lifecycle. . Madison also has extensive investment experience in the Florida markets and we appreciate that they were able to leverage their expertise to help us bring this exciting transaction to fruition and we look forward to a long relationship. together.
Located at 900-1100 Fifth Avenue South in Old Naples, the development site offers A + location, visibility and access for high quality commercial tenants and residential units. M Development is currently assessing the market and intends to lease the property to top quality national retail tenants.
Scott Aiese of JLL, Managing Director, Alex Staikos, Director, and Jesse Wright, Director, served as advisors to M Development.
About Madison Realty Capital
Madison Realty Capital is a vertically integrated real estate private equity firm managing approximately $ 6.6 billion in total assets on behalf of a global institutional investor base. Since 2004, Madison Realty Capital has completed more than $ 16 billion in transactions in the United States, providing reputable borrowers with flexible and highly personalized financing solutions, strong underwriting capabilities and certainty of execution. Based in New York City, with offices in Los Angeles and Miami, the company has more than 60 employees across all disciplines of real estate investing, development and property management. Madison Realty Capital has been frequently named to the Commercial Observer’s prestigious âPower 100â list of New York City real estate players and is regularly cited as one of the top construction lenders, among other industry accolades. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.