Madison Realty Capital Originates $55 Million in Short-Term Commercial Real Estate Loans in June
Company Finances More than $400 Million in Loans Since 2006
Madison Realty Capital (MRC), an institutionally-backed, private commercial lender which provides short-term, commercial real estate loans, announced it originated $55 million in new short-term loans to real estate investors during June 2007. Since 2006, MRC has financed more than 100 commercial real estate loans totaling in excess of $400 million throughout the United States.
"The need for short-term mortgage financing has only grown as conventional lenders tighten their lending parameters," said Josh Zegen, Managing Partner and Co-Founder. "In the last two months alone we have doubled our lending ability to keep up with the demand and see no sign of that demand slowing down."
MRC's specialty is in providing short-term loans for up to three years for financings ranging from $1 million to $50 million. With more than 50 years of combined experience, the partners at MRC have the knowledge and experience to find creative solutions for even the most problematic deals.
The company provides bridge financing for a variety of property types including: retail, multi-family, office, hotel, industrial, land and specialty properties.
Recent financings include: a $25.7 million refinance and construction loan for a residential development in Amagansett, NY; a $10 million refinancing of an office condominium in Orlando, FL; an $8.5 million refinance of an apartment building in Phoenix, AZ; and a $2.2 million refinance secured by a retail property in New Orleans, LA.
Source: Madison Realty Capital
Web site: http://www.madisonrealtycapital.com/