New York, Jan. 20, 2022 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced the completion of one of the busiest years in 17-17 year history. Notable highlights for 2021 include:
- Closed a record total deal volume of $6.4 billion in 2021 out of 72 deals. The firm has executed deals ranging from $10 million to $485 million in all major US metropolitan markets. Throughout 2021, Madison originated and acquired loans across all asset classes, including multi-family, mixed-use, retail, office, industrial, land and hotel properties and invested in loans transition and special situation, as well as provided funding for development and construction from scratch. In the last two months of 2021 alone, the company closed 26 new deals worth nearly $2.7 billion.
- Raised $2.08 billion in equity commitments for Madison Realty Capital Debt Fund V LP (“Fund V”), exceeding the fund’s $1.75 billion target. Fund V, the company’s largest loan fund to date, has received strong support from existing investors as approximately 70% of institutional LPs from Madison’s previous fund have been reconstituted in Fund V. In addition, 52% of the committed capital for Fund V came from new partners, both domestic and overseas.
- Originated over $1 billion in loan-on-loan funding for twelve alternative lenders as part of its lender funding strategy. The company has provided financing solutions to alternative real estate lenders for projects in California, Florida, Nevada, New Jersey, New York and Oregon through its income-focused leveraged investment vehicle , which targets lighter, core-plus value-added real estate transactions with a greater focus on revenue generation with rates around 4% to 6%.
- Launched an institutional hotel lending platform, Madison Newbond, with an initial lending capacity of $500 million in partnership with Newbond Holdings. Madison Newbond offers unique financing programs to new and existing borrowers across the hospitality spectrum, from limited-service hotels and developers to ultra-luxury resorts and targets opportunities including transitional loans and base developments, as well as first mortgages, mezzanine loans and preferred shares, in major metropolitan markets.
- Attract and retain executive talent. In April 2021, Madison announced that veteran executive Urian Yap had joined the firm as Blackstone Group Chief Financial Officer, where he led the global lending operations team for Blackstone Real Estate Debt Strategies and the reporting team. investors for Blackstone Mortgage Trust Inc. Madison has expanded its team with 12 new professionals, further developing multiple real estate investment disciplines and capabilities. Additionally, Madison, which opened its first Los Angeles office in 2018, continued to build its West Coast presence with the opening of its new Los Angeles office in Century City.
Josh Zegen, Managing Director and Co-Founder of Madison Realty Capital, said, “Madison Realty Capital again distinguished itself in 2021 by providing personalized single-source financing solutions for the unique needs of borrowers and by offering speed, certainty of strong execution and underwriting. , despite a very dynamic market environment. I am proud of what we have been able to accomplish, which is a testament to our team and the culture and expertise we have developed over the past 17 years. We look forward to continuing to execute on behalf of our borrowers, investors and the communities we serve in 2022 and beyond.
Notable transactions for the company in 2021 include:
- Inauguration of a mixed-use residential and public school development in Woodside, Queens, in a public-private partnership with the NYC School Construction Authority and the Department of Education;
- A $34 million loan-on-loan for the redevelopment of a multi-family property in Woodland Hills, Los Angeles;
- A $106 million construction loan to Arch Companies and AB Capstone for the development of Myrtle Point, a mixed-use residence in New York;
- A $450 million construction loan to Rabsky Group for a 1,098-unit mixed-use development in downtown Brooklyn;
- A $278.5 million construction loan to Reger Holdings, LLC for a portfolio of 734 multi-family apartments, 1,264 multi-family units and 117 luxury condominium residences across three projects in Austin, Texas;
- A $30 million first mortgage to Metropica Development for a ten-acre luxury condominium tower and development site in Sunrise, Florida;
- A $79 million loan to Vella Group for a portfolio of five industrial and flexible office buildings in Los Angeles, California;
- A $395 million loan for a portfolio of 1,161 units in three multi-family projects in Bayonne, Raritan and Linden, New Jersey as well as land at the former Bears Stadium with plans for 4,200 residential units;
- A $110 million loan to Harridge Development, Silverpeak Real Estate Partners and an affiliate of Cerberus Capital Management for single-family homes in a planned development in historic San Pedro, Los Angeles.
About Madison Realty Capital
Madison Realty Capital is a vertically integrated real estate private equity firm that, as of December 31, 2021, manages approximately $8 billion in total assets on behalf of a global base of institutional investors. Since 2004, Madison Realty Capital has completed approximately $20 billion in transactions providing borrowers with flexible and highly customized financing solutions, strong underwriting capabilities and certainty of execution. Headquartered in New York, with an office in Los Angeles, the firm has approximately 70 employees across all disciplines of real estate investment, development and management. Madison Realty Capital has been frequently 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 top construction lenders, among other industry accolades. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.