News May 13, 2024

Madison Realty Capital Leads $100M Financing for Kushner’s Jersey Shore Project

Commercial Observer reported that Kushner Companies has secured $100 million in construction financing for a new mixed-use development in Long Branch, NJ. Madison Realty Capital provided an $85 million construction loan in the deal, while Unity Capital provided $15 million in mezzanine financing. When completed, the property will feature 299 residential units across two four-story buildings, 21,318 square feet of retail space — partly occupied by a SuperFresh grocery store — and 558 parking spaces. “Long Branch is a supply-constrained housing market with significant barriers to entry, and has experienced strong and growing demand for luxury residential and retail properties in recent years,” Josh Zegen, managing principal and co-founder of Madison Realty Capital, said in a statement.

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