News November 07, 2018
Madison Realty Capital Lends $68M on NJ Multifamily Development
In a process that took a mere three weeks, Accordia Realty Ventures and Eastone Equities have secured a loan from Madison Realty Capital that will help fund a transit-oriented multifamily project in New Jersey. Commercial Observer reports that the $67.5 million loan will be used to acquire an existing building as well as an adjacent property and construct a new two-building property with over 600 residences with convenient access to the recently renovated PATH train. Madison Realty Capital, a leader among New York property management companies, has been expanding their portfolio across the Hudson with a series of New Jersey-area loans, including $258 million for a trio of properties around the state.
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