PERE reported that Madison Realty Capital closed a $654 million senior mortgage and mezzanine loan for 2020 Acquisitions to refinance five buildings at Central 9 Logistics Park in Old Bridge, New Jersey, and fund construction of two additional properties at the 4.1 million-square-foot industrial campus. The financing reflects Madison Realty's confidence in the location's proximity to major ports and airports, as well as strong leasing momentum that saw occupancy increase from 20 percent to roughly 70 percent over the summer. Managing Principal Josh Zegen noted that 2025 has been a record year for the firm, driven by compressing spreads, declining rates, and renewed sponsor confidence in developing new product.

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