NEW YORK, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced the firm originated nearly $3.0 billion in financing, originations, and performing and non-performing note purchases in 2022.
Notable highlights for 2022 include:
- Closed 2022 with more than $10 billion in assets under management, receiving support from existing and new institutional investors.
- Completed a total of 35 transactions and nearly $3.0 billion in total deal volume across major U.S. metropolitan and suburban markets. The firm executed deals ranging from $12 million to $315 million across real estate asset classes including, multifamily, mixed use, retail, office, industrial, land, and hotel. The firm completed approximately $1.8 billion of transactions with repeat borrowers or brokers.
- Received a strategic minority investment from ICONIQ Investment Management to advance Madison Realty Capital’s long-term growth and success. ICONIQ’s financial and strategic support is helping the firm develop new relationships with borrowers, lenders, and developers and expanding the firm’s network of global institutional investors.
- Expanded its institutional hospitality lending platform, Madison Newbond, which originated $279 million in total transaction volume across three deals. Launched in November 2021, the platform provides first mortgages, mezzanine loans and preferred equity to hotel owners and developers across the hospitality spectrum, and seeks to address the significant disruption in the hospitality industry by meeting the evolving needs of owners and operators.
- Grew its lender financing strategy, executing more than $137 million in loan-on-loan financing for numerous alternative lenders. The strategy targets lighter value-add and core-plus real estate transactions with a greater focus on income generation and rates starting at SOFR 4% to 6%.
Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital, said, “Our team continued to execute and provide tailored financing for borrowers throughout varied market conditions over the last year. As we broaden our global network of institutional relationships, we remain committed to designing customized solutions for borrowers. We look forward to continuing to execute with certainty on behalf of our borrowers and investors, and act as a partner of choice for leading institutional sponsors and developers.”
Madison Realty Capital continued to be an active lender throughout 2022. Noteworthy transactions for the firm this year include:
- A $315.6 million loan to Carpenter & Company, Inc. and Woodward Interests, LLC for the completion of the renovation at the Four Seasons Hotel and Residences New Orleans.
- A $76 million loan to The Related Group for the development of a 343-unit luxury condominium in Miami, Florida, which is fully pre-sold. The property, District 225, incorporates short term rental capabilities with Related Airbnb collaboration.
- A $85 million loan for the last remaining condo development site on Fisher Island in Miami, Florida, a 216-acre private island only accessible by ferry, boat, or helicopter. The loan made to The Related Group, BH Group, Globe Invest, and Wanxiang Group Corporation will be used for the acquisition and pre-development of a 51-unit luxury condominium.
- An upsized loan for a total commitment of $395 million to Manhattan Building Company for multiple phases of a 1,089-unit mixed use development spanning four buildings in Jersey City, New Jersey.
- A $114 million loan to Parakeet Communities for a portfolio of twelve mobile home communities located in Florida and North Carolina. The portfolio includes 1,400 pad sites, which are 90% occupied.
- A $102 million loan for the acquisition and construction of a mixed-use property with 327 multifamily units, 77 townhomes and ground floor retail in Philadelphia.
Since inception, Madison Realty Capital has closed on approximately $22 billion of transactions across more than 590 debt and equity positions in the multifamily, retail, office, industrial and hotel sectors.
Other notable highlights and recognitions include:
- Securing five nominations in the 2022 PERE Global Award on December 9, 2022, for the following categories: Capital Raise of the Year (Global), Debt Firm of the Year (Global), Capital Raise of the Year (North America), Debt Firm of the Year (North America), and Hotels and Leisure Investor of the Year (North America);
- Madison Realty Capital Debt Fund V, which raised $2.08 billion in equity commitments and closed in December 2021, was ranked #22 on PERE’s Real Estate Debt 50 list of the largest debt funds globally for 2021 and ranked #13 on Real Estate Capital US’s Debt Fund 40 list of largest fundraisers in the US commercial real estate lending market for 2021; and
- The firm’s Managing Principals and co-founders, Josh Zegen, Brian Shatz, and Adam Tantleff were named to Commercial Observer’s Power 100 list of New York City real estate players for the seventh consecutive time since the list’s inception in 2016.
About Madison Realty Capital
Madison Realty Capital is a vertically integrated real estate private equity firm that, as of December 31, 2022, manages approximately $10 billion in total assets on behalf of a global institutional investor base. Since 2004, Madison Realty Capital has completed approximately $22 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 more than 70 employees across all real estate investment, development, and property management disciplines. Madison Realty Capital has been named to Commercial Observer’s prestigious “Power 100” list of New York City real estate players every year since 2016. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.
Media inquiries, contact:
Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
madisonrealty@gasthalter.com
