{"id":1004656227,"date":"2023-04-07T01:58:43","date_gmt":"2023-04-07T09:58:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004656227"},"modified":"2023-04-07T05:40:33","modified_gmt":"2023-04-07T13:40:33","slug":"mag-mile-capital-goes-public-in-merger","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mag-mile-capital-goes-public-in-merger\/","title":{"rendered":"Mag Mile Capital Goes Public in Merger"},"content":{"rendered":"
\"Montessori<\/a>

Montessori school in Cary, N.C. Image courtesy of Mag Mile Capital<\/em><\/p><\/div>\n

Mag Mile Capital<\/strong>, a Chicago-based boutique commercial real estate mortgage banking firm, has merged with Myson Inc.<\/strong>, creating a new publicly traded company aimed at growing the firm\u2019s national mortgage banking and capital markets brokerage and launching a new technology platform. The new entity will operate as Mag Mile Capital Inc.<\/strong><\/p>\n

Rushi Shah, CEO of Mag Mile Capital, said in a prepared statement the merger gives the firm a public company framework to aggressively grow the business. Founded in December 2016, through a merger among three partners, the company also has offices in New York, Massachusetts, Connecticut, Florida, Texas and Nevada. Shah became the sole member of the company in July 2018 through a series of partnership buyouts. Since then, the firm expanded nationally and added origination and underwriter leaders.<\/p>\n

\n

READ ALSO:<\/strong> Why a Source of Rescue Capital May Already Be in the Deal<\/a><\/p>\n

\n

As part of the merger with Myson, identified as a publicly traded shell company by Commercial Observer<\/em>, Shah was appointed chairman of Myson\u2019s board of directors and named CEO of the combined publicly traded company. Other significant shareholders include Reddington Partners<\/strong>, a private investment holding company located in Beverly Hills, Calif. According to Commercial Observer<\/em>, approximately 88 percent of the new entity will be owned by Shah, with about 10 percent owned by Reddington Partners.<\/p>\n

Shah said the liquidity of publicly traded shares and infusion of cash will enable the firm to seek out and pursue acquisitions, consolidate revenue and launch its technology platform. The firm is developing a proprietary technology that leverages advanced technologies including artificial intelligence, machine learning and automated learning models to automate CRE underwriting and valuations processes.<\/p>\n

Plans include exploring other CRE services including investment brokerage services, direct lending, designated underwriting and servicing businesses, pure play CRE mortgage servicing, appraisal services and property management, as well as GP and co-GP development platforms.<\/p>\n

Mag Mile Capital\u2019s team has real estate debt placement<\/a> and equity arrangement experience throughout the capital stack and across all major asset classes including office, retail, industrial, health care, hotels, self storage and special purpose properties. The firm offers preferred access to premier structured debt and equity advisory solutions and placement for real estate investors, developers and entrepreneurs.<\/p>\n

Mag Mile deals<\/h2>\n

Recently, Mag Mile Capital closed on a $21.3 million, 10-year, construction-to-permanent loan for Clover Ridge Apartments, a four-story, 122-unit apartment building in Chaska, Minn. Borrower AV Development expects to complete the building in fall 2024.<\/p>\n

Other deals included closing a five-year, $7.5 million loan to refinance a 106-key Holiday Inn Express in San Marcos, Texas, for borrower Haven Management Services and a 10-year, $6.6 million loan for Freeport Equity to acquire two special-use retail NNN-leased educational facilities in North Carolina. Freeport Equity, a repeat client, purchased buildings in Cary and Morrisville that are leased by Montessori schools.<\/p>\n","protected":false},"excerpt":{"rendered":"

The boutique Chicago brokerage firm plans to use the funding to grow its national business.<\/p>\n","protected":false},"author":1068,"featured_media":1004656241,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21808,21825,23891,21742],"tags":[51966,51967],"class_list":["post-1004656227","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-featured","category-finance","category-national","category-latest","tag-mag-mile-capital","tag-rushi-shah"],"acf":[],"yoast_head":"\nMag Mile Capital Goes Public in Merger - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Mag Mile Capital, a Chicago-based boutique commercial real estate mortgage banking firm, has merged with Myson Inc.\" \/>\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\/mag-mile-capital-goes-public-in-merger\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mag Mile Capital Goes Public in Merger\" \/>\n<meta property=\"og:description\" content=\"Mag Mile Capital, a Chicago-based boutique commercial real estate mortgage banking firm, has merged with Myson Inc.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/mag-mile-capital-goes-public-in-merger\/\" \/>\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=\"2023-04-07T09:58:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-07T13:40:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Mag-Mile-Capital_Kids-R-Kids_Cary-NC-e1680861465477.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"589\" \/>\n\t<meta property=\"og:image:height\" content=\"443\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\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\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mag-mile-capital-goes-public-in-merger\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mag-mile-capital-goes-public-in-merger\\\/\"},\"author\":{\"name\":\"Gail Kalinoski\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/fc5b5df1393e5023d2417bd48c2fda57\"},\"headline\":\"Mag Mile Capital Goes Public in Merger\",\"datePublished\":\"2023-04-07T09:58:43+00:00\",\"dateModified\":\"2023-04-07T13:40:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mag-mile-capital-goes-public-in-merger\\\/\"},\"wordCount\":489,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mag-mile-capital-goes-public-in-merger\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Mag-Mile-Capital_Kids-R-Kids_Cary-NC-e1680861465477.jpg\",\"keywords\":[\"Mag Mile Capital\",\"Rushi Shah\"],\"articleSection\":[\"Chicago\",\"Featured\",\"Finance\",\"National\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mag-mile-capital-goes-public-in-merger\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mag-mile-capital-goes-public-in-merger\\\/\",\"name\":\"Mag Mile Capital Goes Public in Merger - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mag-mile-capital-goes-public-in-merger\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mag-mile-capital-goes-public-in-merger\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Mag-Mile-Capital_Kids-R-Kids_Cary-NC-e1680861465477.jpg\",\"datePublished\":\"2023-04-07T09:58:43+00:00\",\"dateModified\":\"2023-04-07T13:40:33+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/fc5b5df1393e5023d2417bd48c2fda57\"},\"description\":\"Mag Mile Capital, a Chicago-based boutique commercial real estate mortgage banking firm, has merged with Myson Inc.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mag-mile-capital-goes-public-in-merger\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mag-mile-capital-goes-public-in-merger\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mag-mile-capital-goes-public-in-merger\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Mag-Mile-Capital_Kids-R-Kids_Cary-NC-e1680861465477.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Mag-Mile-Capital_Kids-R-Kids_Cary-NC-e1680861465477.jpg\",\"width\":589,\"height\":443,\"caption\":\"Montessori school in Cary, N.C. Image courtesy of Mag Mile Capital\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mag-mile-capital-goes-public-in-merger\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mag Mile Capital Goes Public in Merger\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/fc5b5df1393e5023d2417bd48c2fda57\",\"name\":\"Gail Kalinoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Gail-Kalinoski-headshot.jpeg?w=86\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Gail-Kalinoski-headshot.jpeg?w=86\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Gail-Kalinoski-headshot.jpeg?w=86\",\"caption\":\"Gail Kalinoski\"},\"description\":\"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/gail-kalinoski\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Mag Mile Capital Goes Public in Merger - Commercial Property Executive","description":"Mag Mile Capital, a Chicago-based boutique commercial real estate mortgage banking firm, has merged with Myson Inc.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/mag-mile-capital-goes-public-in-merger\/","og_locale":"en_US","og_type":"article","og_title":"Mag Mile Capital Goes Public in Merger","og_description":"Mag Mile Capital, a Chicago-based boutique commercial real estate mortgage banking firm, has merged with Myson Inc.","og_url":"https:\/\/www.commercialsearch.com\/news\/mag-mile-capital-goes-public-in-merger\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2023-04-07T09:58:43+00:00","article_modified_time":"2023-04-07T13:40:33+00:00","og_image":[{"width":589,"height":443,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Mag-Mile-Capital_Kids-R-Kids_Cary-NC-e1680861465477.jpg","type":"image\/jpeg"}],"author":"Gail Kalinoski","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/mag-mile-capital-goes-public-in-merger\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/mag-mile-capital-goes-public-in-merger\/"},"author":{"name":"Gail Kalinoski","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"headline":"Mag Mile Capital Goes Public in Merger","datePublished":"2023-04-07T09:58:43+00:00","dateModified":"2023-04-07T13:40:33+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/mag-mile-capital-goes-public-in-merger\/"},"wordCount":489,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/mag-mile-capital-goes-public-in-merger\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Mag-Mile-Capital_Kids-R-Kids_Cary-NC-e1680861465477.jpg","keywords":["Mag Mile Capital","Rushi Shah"],"articleSection":["Chicago","Featured","Finance","National","News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/mag-mile-capital-goes-public-in-merger\/","url":"https:\/\/www.commercialsearch.com\/news\/mag-mile-capital-goes-public-in-merger\/","name":"Mag Mile Capital Goes Public in Merger - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/mag-mile-capital-goes-public-in-merger\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/mag-mile-capital-goes-public-in-merger\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Mag-Mile-Capital_Kids-R-Kids_Cary-NC-e1680861465477.jpg","datePublished":"2023-04-07T09:58:43+00:00","dateModified":"2023-04-07T13:40:33+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"description":"Mag Mile Capital, a Chicago-based boutique commercial real estate mortgage banking firm, has merged with Myson Inc.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/mag-mile-capital-goes-public-in-merger\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/mag-mile-capital-goes-public-in-merger\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/mag-mile-capital-goes-public-in-merger\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Mag-Mile-Capital_Kids-R-Kids_Cary-NC-e1680861465477.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Mag-Mile-Capital_Kids-R-Kids_Cary-NC-e1680861465477.jpg","width":589,"height":443,"caption":"Montessori school in Cary, N.C. Image courtesy of Mag Mile Capital"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/mag-mile-capital-goes-public-in-merger\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Mag Mile Capital Goes Public in Merger"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57","name":"Gail Kalinoski","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","caption":"Gail Kalinoski"},"description":"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Mag-Mile-Capital_Kids-R-Kids_Cary-NC-e1680861465477.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004656227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1068"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004656227"}],"version-history":[{"count":4,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004656227\/revisions"}],"predecessor-version":[{"id":1004656311,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004656227\/revisions\/1004656311"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004656241"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004656227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004656227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004656227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}