News October 03, 2019
Hotel Projects Underway Across the U.S.
The Raffles Boston Back Bay Hotel & Residences has broken ground, a feat it never could have achieved without the help of a $314 million loan from Madison Realty Capital. The luxury hotel and residential project is slated for completion in 2022, when it will add 147 guestrooms, 146 branded residences, and six food and beverage venues to the hip neighborhood. The project’s existence hinged on the construction loan from Madison Realty Capital, the New York-based real estate private equity firm which specializes in debt investing and construction loans for projects that are already in progress. MRC made the news earlier this year when its fourth debt fund raised over $1.1 billion.