NEW YORK, Sept. 10, 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 $105 million phased construction loan to The True Life Companies’ (TTLC) for-sale townhome and condominium project in Hayward, California. TTLC is developing the project in partnership with Hillwood.
“We are pleased to deliver a customized financing solution to TTLC, a local San Francisco Bay Area developer with significant experience developing attainable housing in supply constrained metro areas attractive to first time home buyers,” said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital. “The San Francisco Bay Area market has long lacked affordable new housing options and TTLC’s mission to alleviate housing supply constraints is one we readily support. We look forward to working closely with TTLC to finance each phase of construction for this exciting project.”
Known as SoMi, the multi-phased project will include 123 townhomes consisting of three-bedroom and four-bedroom units and 66 residential condominiums consisting of two- and three-bedroom units, nearly one third of which will be affordable. Located within walking distance to the South Hayward BART station and proximity to Highway 95, the property offers an easy commute throughout the San Francisco Bay area.
“The team at Madison Realty Capital has been a pleasure to work with on the funding of the construction loan for SoMi, our new community in Hayward,” said Scott Menard, Executive Vice President of The True Life Companies. “They were diligent, responsive and dedicated throughout the entire loan underwriting process. We look forward to doing more transactions with Madison Realty Capital on our upcoming communities.”
Gary Mozer and Evan Kinne at George Smith Partners in Los Angeles brokered the transaction.
About Madison Realty Capital
Madison Realty Capital is a vertically integrated real estate private equity firm that manages approximately $6 billion in total assets on behalf of an institutional global investor base. Since 2004, Madison Realty Capital has completed more than $15 billion in transactions in the U.S. providing reputable borrowers with flexible and highly customized financing solutions, strong underwriting capabilities, and certainty of execution. Headquartered in New York City, with offices in Los Angeles and Miami, the firm has over 60 employees across all real estate investment, development, and property management disciplines. 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 a top construction lender, among other industry recognitions. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.
About The True Life Companies
The True Life Companies is composed of a team of highly successful residential real estate professionals who work together with property owners, municipalities and local stakeholders to address the need for critically-needed attainable housing solutions in our metro regions. TTLC seeks to establish suburban and urban housing options that are the result of insightful research, innovative planning, and creative collaboration. TTLC is headquartered in Denver with offices in San Ramon, Folsom and Costa Mesa, California. For more information on TTLC’s portfolio, including their active properties, visit TheTrueLifeCompanies.com or find us on www.facebook.com/thetruelifecompanies.
