NEW YORK, Nov. 17, 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 $91 million construction loan to a joint venture between Harridge Development Group, Silverpeak Real Estate Partners and Atalaya Capital for a mixed-use development comprised of multifamily and single-family rental units located in Granada Hills, California.
“Homes in the San Fernando Valley are reaching record sale prices, yet housing inventory has not kept pace with this sustained demand, said Josh Zegen. “We are excited to build on our longstanding relationship with Harridge Development to finance a fifth project together in Greater Los Angeles, and provide an institutional sponsorship group with flexible support through multiple phases of development for high-quality multifamily and single-family rental housing options just 25 miles Northwest of Downtown Los Angeles.”
Located at 16225 San Fernando Mission Boulevard in Granada Hills, the site is planned for 140 multifamily units, 6,000 square feet of retail space, and a single-family rental community consisting of 102 townhomes. The multifamily property will include studios, one- and two-bedroom units rising three stories.
Madison Realty Capital prides itself on developing long-term relationships with its borrowers. Earlier this year, Madison Realty Capital provided a $110 million loan to a joint venture between Harridge Development, Silverpeak Real Estate Partners and Cerberus Capital for a master planned housing community in San Pedro, Los Angeles. In 2020, Madison Realty Capital delivered a $173 million construction loan to a joint venture that included Atalaya Capital, MAG Partners and Qualitas Group for the construction of a 479-unit multifamily property in Manhattan’ Chelsea neighborhood.
Adi Chugh of Surya Capital Partners 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 an office in Los Angeles, 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.
