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Madison Realty Capital Closes $105 Million Acquisition and Modernization Loan for Four Seasons Hotel in Prime Miami Location

Madison Realty Capital Closes $105 Million Acquisition and Modernization Loan for Four Seasons Hotel in Prime Miami Location
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Madison Realty Capital Provides $30 Million Inventory Loan for Two Luxury Condominiums at Metropica in Sunrise, Florida


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NEW YORK, June 02, 2021 (GLOBE NEWSWIRE) Madison Realty Capital, a fully integrated real estate private equity firm focused on debt and equity investment strategies, today announced it has provided a $30 million first mortgage loan to Metropica Development for a luxury condominium tower and a ten-acre development site, which includes plans to develop a second 250-unit multifamily tower. The portfolio is part of Metropica, a four million-square-foot master planned community comprised of luxury residences, modern office towers and high-end retail offerings located in Sunrise, Florida.
Metropica Development, led by Joseph Kavana, began construction of the first 263-unit luxury condominium tower in 2017 and has sold 174 units to date. Madison s loan will be used to support 89 units, representing 101,989 square feet on the upper floors of the first condominium tower as well as the adjacent 250-unit second condominium tower. In addition to the first tower, the Metropica ma ....

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