{"id":1004127830,"date":"2015-09-21T06:13:44","date_gmt":"2015-09-21T14:13:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004127830"},"modified":"2020-05-14T00:00:04","modified_gmt":"2020-05-14T08:00:04","slug":"madison-realty-lends-a-helping-hand-in-the-east-village","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/madison-realty-lends-a-helping-hand-in-the-east-village\/","title":{"rendered":"Madison Realty Lends a Helping Hand in the East Village"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/em><\/p>\n

\"Josh<\/a>

Josh Zegen, Madison Realty Capital<\/p><\/div>\n

It looks like Madison Realty Capital<\/a> is the go-to lender for the most complicated of financing needs. The real estate investment firm recently provided a customized $124 million first and second mortgage package for a client\u2019s acquisition of a 175,000-square-foot real estate portfolio in Manhattan.<\/p>\n

This isn\u2019t just any portfolio. The group of assets consists of 15 residential and mixed-use buildings in coveted locations in the East Village. It\u2019s a collection that, as Josh Zegen, co-founder & managing principal of MRC, said in a prepared statement, \u201cwould be nearly impossible to replicate in today\u2019s market.\u201d<\/p>\n

As for the financing, pulling the package together wasn\u2019t nearly impossible, but it was hardly simple. MRC crafted a single-source capital solution, participating in select tranches of the capital stack. The financing was designed not only to facilitate the borrower\u2019s off-market acquisition of the portfolio, but to allow for the renovation and repositioning of the assets as well.<\/p>\n

\u201cOn the lending side of MRC\u2019s business, our focus is on funding complex, time-sensitive middle market transactions like this major portfolio deal,\u201d Zegen said. \u201cWe are active in special situation real estate lending throughout Manhattan and the outer boroughs, so we\u2019re deeply familiar with all the neighborhoods and get up to speed quickly.\u201d<\/p>\n

In another complicated deal, in Brooklyn, MRC recently provided roughly $107.3 million of first mortgage financing<\/a> for the initial phase of Fortis Property Group\u2019s acquisition of the 375,000-square-foot Long Island College Hospital real estate portfolio of medical office buildings, residential units and development sites.<\/p>\n

The East Village transaction marks MRC\u2019s 24th debt investment so far in 2015, bringing its year-to-date activity to $590 million. The firm has its eyes on closing in excess of $1 billion of both debt and equity deals before ringing in 2016.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

This complex deal specialist provided a single-source solution for a coveted portfolio of assets.<\/p>\n","protected":false},"author":969,"featured_media":1004127000,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21783,11,21752,21742,10],"tags":[],"class_list":["post-1004127830","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-investment","category-midatlantic","category-mixed-use","category-latest","category-northeast"],"acf":[],"yoast_head":"\nMadison Realty Lends a Helping Hand in the East Village - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/madison-realty-lends-a-helping-hand-in-the-east-village\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Madison Realty Lends a Helping Hand in the East Village\" \/>\n<meta property=\"og:description\" content=\"This complex deal specialist provided a single-source solution for a coveted portfolio of assets.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/madison-realty-lends-a-helping-hand-in-the-east-village\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-09-21T14:13:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-14T08:00:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/09\/Josh-Zegen-Madison-Realty-Capital.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/madison-realty-lends-a-helping-hand-in-the-east-village\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/madison-realty-lends-a-helping-hand-in-the-east-village\/\",\"name\":\"Madison Realty Lends a Helping Hand in the East Village - 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