News January 23, 2019

MRC Lends $28M to Refi Houston Medical Building

Commercial Observer is reporting that Madison Realty Capital (MRC) has made a deal with two Houston-based developers to extend a $28 million loan to refinance a large medical office building in The Heights neighborhood. The building is home to a number of medical offices, including St. Joseph Medical Center and Curahealth, and MRC stepped in because the debt funds were needed to complete renovations at the site. Speaking about the investment, MRC cofounder Josh Zegen told Commercial Observer that the project is in “sort of a growth area, and it had a lack of medical offices, so the business plan of the borrower here really fills the need.” 

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