Madison Realty Capital, Newbond Holdings Launch Hospitality Lending Platform
Commercial Observer reported that Madison Realty Capital and Newbond Holdings are joining forces in a new joint venture partnership aimed at originating and purchasing hospitality loans across the U.S. The institutional lending platform will provide first mortgages, mezzanine loans and preferred equity to hotel owners and developers nationwide. The strategic partnership will begin with roughly $500 million of initial lending capacity with hopes to expand its scale as a tool to rejuvenate a sector still recovering from the height of the COVID-19 pandemic. “It’s a venture that we’ve all envisioned, and it’s also great timing, we think that hospitality is still starved for capital and as a result, there are some very interesting opportunities,” managing principal and co-founder of Madison Realty Capital, Josh Zegen said.