News April 12, 2021
Madison Realty Capital Lends $146M on 2 N.J. Multifamily Developments
Commercial Observer reports that Madison Realty Capital has extended $146 million in construction financing to Accurate Builders and Developers for a pair of multifamily projects in northern New Jersey. When asked about the deal, Josh Zegen, Managing Principal and Co-Founder of the prominent debt investment firm, told Commercial Observer that he was pleased to work with the developer on “Class A, highly-amenitized residential properties in attractive, high-barrier-to-entry New Jersey markets.” When complete, the two developments, dubbed The Morrison and The Residences at Mountainview, will offer a dynamic lifestyle, with the former bringing 325 apartments to Parsippany while the latter will include both apartments and townhomes, all anchored by amenities and ample parking for residents in both developments.