Madison Realty Capital

Concord Summit Capital Secures $122 Million Financing For 55-Plus Rental Community, Encore at Tradition, in Port St. Lucie

8:00 am on August 17, 2023 By Oscar Nunez

Concord Summit Capital has closed $122 million in financing for a 55-plus rental community under construction in Port St. Lucie. The package includes a $95 million construction loan from Madison Realty Capital and $27 million in mezzanine debt from an undisclosed lender for the developers of the 415-unit Encore at Tradition, located at 8500 Southwest America Walks Boulevard. The financing was arranged by Concord Summit Capital advisors David Larson, Daniel Eidson, and Keegan Burger. The project is being developed by America Walks at Port St Lucie, LLC, a partnership between

E11EVEN Residences Beyond Breaks Ground Following $262M Construction Loan

8:00 am on June 5, 2023 By Oscar Nunez

Property Markets Group and E11EVEN Partners have secured a hefty $262 million construction loan and turned the first dirt on their second tower, E11EVEN Residences Beyond. This significant step forward paves the way for adding a remarkable 700-foot, 65-story skyscraper to Miami’s skyline, set to rise at 90 Northeast 11th Street in District 11 at Park West. Sieger Suarez Architects design the project, which will contain 550 residential units featuring interior design by AvroKO. John Moriarty & Associates is the general contractor.

FAA Permits Filed For Two 329-Foot-Tall Towers At 1919 North Flagler Drive In West Palm Beach

8:00 am on April 18, 2023 By Oscar Nunez

Permits have been submitted to the Federal Aviation Administration (FAA) for work on Olara Residences, a planned 329-foot-tall residential development at 1919 North Flagler Drive in the Currie Park district of West Palm Beach. The permits were filed on April 14, 2023, and are now under review by the FAA. Located along the western side of the Intracoastal Waterway, between Butler Street and Pine Street, the two-towered, 26-story project was designed by Miami-based Arquitectonica and is being developed by New York-based Savanna, which assembled the 1.82-acre development site for $15.9 million between June 2021 and June 2022. The blueprint for Olara Residences encompasses 275 condominiums and 210 apartments for lease, with interiors designed by New York-based Gabellini Sheppard Associates, 1,570 square feet of business area, approximately 80,000 square feet of amenities, and a 30,000-square-foot eatery and gourmet marketplace.

Developers Secure $76 Million In Construction Funding For 37-Story District 225 In Downtown Miami

8:00 am on July 19, 2022 By Oscar Nunez

Related Group, along with ROVR Development and BH Group, have landed a hefty $76 million loan to begin construction on District 225, a 37-story Airbnb-branded condominium development planned for a 15,000-square-foot site at 225 North Miami Avenue in Downtown Miami. Construction funding came from New York-based lender Madison Realty Capital to build the 394-foot-tall tower, which was approved by city planners in April 2021. The project is designed by Sieger Suarez Architects with interiors by the Meshberg Group, and will include 343 fully-finished and furnished units – all of which are sold out. The construction of District 225 will be managed by Craft Construction Company LLC. according to pending permits, and is projected to completed in 2024.

Chetrit Group Lands $310 Million Loan From Madison Realty Capital For The Kobi Karp-Designed 6.2-Acre Miami River Mega Project

8:00 am on November 5, 2021 By Oscar Nunez

The Chetrit Group’s vision for the 6.2-acre Miami River may finally come to fruition after landing a loan to begin construction. The New York City-based developer was granted $310 million in financing from Madison Realty Capital for the first two phases of the 4.2 million-square-foot mega project in Brickell, which is comprised of building the first of four towers and the additions and improvements to the riverwalk. The deal was arranged by Henry Bodek of Galaxy Capital Group, and is collateralized by the land for the last three phases. Kobi Karp is the architect for development, which will ultimately yield 1,928 residential units, 330 hotel rooms, 196,882-square-feet of retail space, and 98,040-square-feet of office space across multiple glass-clad towers along with boat slips, an outdoor theater, a residents lounge, a business center, a state-of-the-art gym, a pool, and a café.

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