News October 28, 2020
Property debt investors raising money but still looking for distress
As extensions given early in the pandemic expire and borrowers grow increasingly eager to secure new loans, lenders like Madison Realty Capital are holding cash and waiting for the right opportunities. Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital noted that while some lenders are jumping into the industrial sector right now, MRC prefers multifamily properties because of better transparency around rent payments and liquidity in the market. MRC is already a major player in the multifamily construction lending arena thanks to its series of successful debt funds, and the firm recently closed a $173 million loan on a Manhattan rental building near the budding tech hub of Hudson Yards.