News January 13, 2020
MRC Lends $27M on 2 Seattle-Area Projects
Madison Realty Capital is continuing to expand its debt investment portfolio around the nation, with Commercial Observer reporting that the New York-based firm has extended $27 million worth of loans to a pair of Seattle-area projects. “MRC was able to provide the borrower with a one-stop shop execution addressing all of their needs,” said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital. “This was an attractive financing opportunity given the location of the sites.” One part of the loan will be used to complete a mostly-finished mixed-use urban infill development in Tacoma, which will be home to 240,000 square feet of retail space as well as 200 market-rate residences, while the rest of the money will be used to refinance a development site in Downtown Seattle.