News June 06, 2019

Williamsburg MXU Garners $8M Mezz Loan

Bluestone Group joined Madison Realty Capital in funding 200 Kent Avenue, a mixed-use development that is nearing completion in Williamsburg. Bluestone added $8 million in funding on top of MRC’s initial $64 million construction loan. When complete, the building will be home to more than 50,000 square feet of retail space as well as another 22,000 square feet of offices and restaurants. Madison Realty Capital is one of the nation’s leading private debt investment firms; last year, it raised $1.1 billion for its fourth debt fund. When asked about 200 Kent Avenue, MRC Managing Principal and Co-Founder Josh Zegen responded, “We’re pleased that our original construction financing was put to good work, allowing the sponsor to construct a quality, well-located development that will continue to attract high-caliber tenants.”

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