NEW YORK, Jan. 31, 2022 (GLOBE NEWSWIRE) -- Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced that it has originated a $53 million loan to The Lynd Company, a national full-service real estate developer and operator based in San Antonio, for the construction of a 261-unit multifamily property in San Antonio, Texas.
“San Antonio is one of the country’s fastest growing metro areas with an expanding population and a talented workforce that is driving demand for high-quality rental options,” said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital. “Madison Realty Capital is pleased to deliver a flexible financing solution to The Lynd Company, a local and experienced operator and developer, for the development of a modern multifamily property distinct from San Antonio’s more traditional suburban garden-style developments.
Located at 120 West Josephine Street outside of San Antonio’s central business district, the property offers easy access to local retail, restaurants, and entertainment within the Pearl District, a hub for culture and cuisine anchored by the historic Pearl Brewery. The six-story property, known as The Josephine, contains Class-A amenities including yoga and spin studio, fitness center, rooftop pool, a bicycle storage, outdoor area, and 377 parking spaces. Comprised of a mix of studios to three-bedrooms, each unit offers top-tier interiors with stainless steel appliances, hardwood flooring, contemporary chrome hardware, quartz countertops, and electronic entry locks. Half of the unit rents will be affordable in coordination with the San Antonio Housing Authority.
“Lynd Living at The Josephine is a very important project for us,” added David Lynd, CEO of The Lynd Company. “We needed a lender that could move quickly and adjust to a fast-paced development environment. Madison stepped up and worked with us to get this deal done and we are extremely pleased with the outcome.”
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 institutional investor base. 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 City, with an office in Los Angeles, the firm has approximately 70 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.
