{"id":50846,"date":"2021-05-05T12:29:12","date_gmt":"2021-05-05T12:29:12","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=73295"},"modified":"2021-05-05T12:29:12","modified_gmt":"2021-05-05T12:29:12","slug":"madison-realty-capital-originates-395-million-loan-for-portfolio-of-three-multifamily-projects-in-bayonne-raritan-and-linden-nj-and-eight-acre-land-key-to-downtown-newarks-revitalization","status":"publish","type":"post","link":"https:\/\/lebanonnewsgazette.com\/madison-realty-capital-originates-395-million-loan-for-portfolio-of-three-multifamily-projects-in-bayonne-raritan-and-linden-nj-and-eight-acre-land-key-to-downtown-newarks-revitalization\/","title":{"rendered":"Madison Realty Capital Originates $395 Million Loan for Portfolio of Three Multifamily Projects in Bayonne, Raritan and Linden, NJ and Eight-Acre Land Key to Downtown Newark\u2019s Revitalization"},"content":{"rendered":"

Residential Portfolio Comprised of Four Mid-Rise Buildings with 1,161 Units Nearing Completion; Eight-Acre Newark Project Site Includes Plans to Develop 4,200 Residential Units<\/h4>\n

NEW YORK, May 05, 2021 (GLOBE NEWSWIRE) — Madison Realty Capital, a fully integrated real estate private equity firm focused on debt and equity investment strategies, today announced it has provided a $395 million loan to Accurate Builders & Developers for a portfolio of assets that includes three nearly-complete multifamily properties located in Bayonne, Raritan and Linden, NJ that includes 1,161 units nearing completion and an eight-acre development located at the site of the Former Bears Stadium in Newark, NJ, that includes plans to develop 4,200 residential units.<\/p>\n

\u201cThis transaction reflects Madison Realty Capital\u2019s ability to provide a complex, hybrid financing solution to a high-quality borrower across price points and all stages of the project lifecycle, from land acquisition, ground up development and leasing,\u201d said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital.\u00a0 \u201cWe are thrilled to expand our relationship with Jack Klugmann of Accurate Builders & Developers and to work with the Town of Newark on this exciting, once-in-a-generation project that benefits the economic revitalization of downtown and will bring much needed high quality housing options to Newark\u2019s hard-working residents.\u00a0 Bayonne, Raritan and Linden are attractive, transit-oriented locations with growing demand for high-quality rental housing options.\u201d<\/p>\n

Details of the portfolio of three multifamily projects near completion, are as follows:<\/p>\n