NEW YORK, May 24, 2022 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced that it has originated a $23 million loan to M2 Development Partners for the predevelopment of two residential towers in Nashville, Tennessee.
“As prominent businesses across industries such as Amazon, Ernst & Young, AllianceBernstein, and Oracle move and expand into Nashville, demand for high-quality residences continues to grow significantly,” said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital. “We are pleased to support two projects strategically located in Nashville poised to capitalize on the neighborhood’s live, work and shop proposition as renters seek modern, amenity-rich living options amid a dynamic employment market. M2 Development Partners has a strong 30-year history in real estate development and investment and is committed to Nashville’s continued development as they plan to break ground on the Ritz-Carlton Nashville Hotel and Residential Tower this year.”
Located at 500 Lafayette Street in the Nashville neighborhood of SoBro, the borrower’s initial plans for the 1.14 acre-development site include a residence with approximately 340 units as well as outdoor space and underground parking. In Nashville’s Midtown neighborhood, 17th and Patterson is a 0.78-acre development site currently planned to rise fifteen stories and offer 139 residential units.
“M2 Development Partners, is very pleased to be working with Madison Realty Capital on our planned multi-family towers in Nashville,” said Timothy Morris, Managing Principal of M2 Development Partners. “Madison provided us the necessary capital to continue advancing our predevelopment activities with an eye on commencing construction in the fourth quarter of 2022. They have been a pleasure to work with and we look forward to a long and mutually beneficial relationship together.”
About Madison Realty Capital
Madison Realty Capital is a vertically integrated real estate private equity firm that, as of March 31, 2022, manages approximately $8.5 billion in total assets on behalf of a global institutional investor base. Since 2004, Madison Realty Capital has completed approximately $20 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 approximately 70 employees across all real estate investment, development, and property management disciplines. Madison Realty Capital has been frequently named to the Commercial Observer’s prestigious “Power 100” list of New York City real estate players and is consistently cited as a top construction lender, among other industry recognitions. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.
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