News April 20, 2021
Madison Realty Capital Lends $110M on New LA Master-Planned Community
Commercial Observer reports that Madison Realty Capital has extended $110 million in funding to a trio of institutions to bring a new collection of upscale Southern California homes to fruition. “We are pleased to provide an attractive, flexible financing solution to an institutional sponsorship group to support the final stages of the development,” said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital. Harridge Development, Silverpeak Real Estate Partners, and an affiliate of Cerberus Capital Management acquired the 60 acres in 2018 on which The Estates at Ponte Vista will be built. The land is now home to 676 single-family lots, with the majority of lots either sold or in contract with home developers DR Horton and KB Home. The bridge loan from Madison Realty Capital will help bring the rest of the project to life, which includes residential amenities like a 2.4-acre public park, spa, and swimming pool.