When Josh Zegen and Brian Shatz co-founded Madison Realty Capital in 2004, the bridge loan sector looked very different than it does today. As Zegen told the Commercial Observer, the market was fragmented and in need of innovation, which is where Zegen and his partners came in. Zegen focused on matching medium-scale lenders with developers seeking a quick injection of cash. In 2008, the firm added property management to their list of services in order to maximize value from a wave of defaulted property loans. Now MRC is one of New York City’s fastest-growing private debt funds, managing $4 billion in investments and employing over 80 people.
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