NEW YORK, Nov. 18, 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 $45 million acquisition loan to a joint venture between GBT Realty and Atalaya Capital that will be used to fund the acquisition and predevelopment of a 3.71-acre mixed-use development site part of the River North project along the East Bank of Nashville, Tennessee.
“Nashville is experiencing meaningful growth as a significant number of major technology, finance, manufacturing and e-commerce businesses expand to the metropolitan area,” said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital. “We are pleased to support GBT Realty, a local real estate owner, operator and developer with significant expertise investing in Tennessee and continue our work with Atalaya Capital to deliver a customized financing solution. River North is a transformational Nashville project critical to strengthening the city’s rapid development and attractive job market and we look forward to supporting the project.”
The borrower’s initial plans for the development include residential, office, retail, and parking offerings. The River North redevelopment plan spans more than 120 acres and will include a total of $20.9 million in public infrastructure improvements. Strategically located outside of Downtown Nashville, with easy access to major highways, River North is directly adjacent to Oracle’s newly planned Southeastern headquarters which is expected to bring more than 2,500 employees to Nashville in the next five years and expand to over 10,000 employees by 2031.
GBT Realty and Atalaya Capital contributed significant equity for the development.
Bill Fishel and Matt Stewart at JLL Capital Markets and Adi Chugh of Surya Capital brokered the transaction.
About Madison Realty Capital
Madison Realty Capital is a vertically integrated real estate private equity firm that, as of September 30, 2021, manages approximately $6.7 billion in total assets on behalf of an institutional global investor base. Since 2004, Madison Realty Capital has completed more than $16 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.
