Madison Realty Capital
Manhattan Luxury Hotel Gets $31M Refi
Madison Realty Capital originated the loan for the 81-key GEM Hotel in Chelsea. The sponsor acquired the property, which previously served as a residential building, in 2007.
Newly Completed Queens Asset Lands $21M Financing
AB Capstone will use the new mortgage to pay off existing debt, as well as for the asset’s final lease-up and stabilization.
Houston MOB Gets $28M in Financing
Part of the refinancing will be used to revamp the roughly 192,000-square-foot building in The Heights neighborhood. Tenants include CuraHealth and St. Joseph Medical Center.
Queens Asset Lands $35M Financing, Awaits Expansion
Madison Realty Capital secured the loan, which will contribute to the transformation of a now-vacant office building into 206,197 square feet of office and retail, as well as a 181-key hotel.
McSam Hotel’s Planned Queens Asset Lands $17M Loan
The owner used the loan for the acquisition and completion of a partially constructed hotel in the borough’s Long Island City neighborhood.
Brooklyn Mixed-Use Project Lands $64M
The development, 200 Kent Ave., will offer 50,101 square feet of retail space, 22,055 square feet of office and restaurant space, as well as 45,170 square feet of parking. Madison Realty Capital arranged the construction loan.
Queens Industrial Assets Sell for $78M
The joint venture plans to upgrade the buildings in order to capitalize on the growing demand for quality space within the supply-constrained New York market.
Madison Realty Capital Sells Richmond Plaza
The 155,781-square-foot retail center in Richmond, Mich., sold to Statewide Richmond LLC in an off-market transaction. The property has nearly 39,000 square feet available for lease.
SL Development Secures $54M Loan for Williamsburg Warehouse Buy
Madison Realty Capital arranged the financing for the firm’s acquisition and upcoming development of a 90,000-square-foot mixed-use building in Brooklyn’s Williamsburg neighborhood. The redevelopment is slated for completion in July 2019.
Private Lenders Step in to Fill the CMBS Gap
Banks remain active in refinancing, but tighter regulations are creating space for competitors.
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