Madison Realty Capital has emerged as one of the nation's most active private lenders. Founded two decades ago by Josh Zegen and Brian Shatz, the company has grown to manage $23 billion in assets through $53 billion in completed transactions, alongside Managing Partner Adam Tantleff. Madison strategically expanded into lender finance and repurchase lines, taking advantage of the lending vacuum created by the 2023 banking crisis. “We’ve evolved from having one product type to now offering multiple financing options — from low leverage to higher leverage — and pricing risk accordingly,” Zegen said. “You can’t be a one-trick pony today. You need a diverse set of tools in your toolbox.”

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