NEW YORK, Jan. 19, 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 $58 million loan to refinance Old Oakland, a collection of ten historic creative office and retail properties in Oakland, California.
Located in Downtown Oakland, the properties span two full city blocks totaling 238,305 square feet across buildings ranging two to four stories. The properties are well leased consisting of leading tenants including Chicago Title, Starbucks, Sweetgreen, Laurene Powell Jobs’ Emerson Collective, and the headquarters of Blue Bottle Coffee and ThredUp. The property is home to the country’s oldest running open-air farmer’s market and hosts a seasonal ice rink and regular pop-up shops. The portfolio also includes two parking lots that can be further developed into residential, retail, office or hotel uses.
Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital, said “Downtown Oakland offers a unique combination of historic buildings with build outs designed for creative and entrepreneurial tenants. Madison Realty Capital is pleased to leverage our relationship with the property owner to efficiently deliver financing in an accelerated timeframe for a high-quality portfolio of commercial properties in a high barrier to entry submarket.”
Madison Realty Capital sourced the transaction directly with the borrower.
About Madison Realty Capital
Madison Realty Capital is a vertically integrated real estate private equity firm that, as of December 31, 2021, manages approximately $8.0 billion in total assets on behalf of an institutional global investor base. Since 2004, Madison Realty Capital has completed more than $20 billion in transactions in the U.S. 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 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.
