Madison Newbond Hotel Lending Platform Generates $20

NEW YORK, Sept. 30, 2022 (GLOBE NEWSWIRE) — Madison Newbond, the institutional lending platform of Madison Realty Capital and Newbond Holdings that provides first mortgages, mezzanine loans and preferred stock to owners and developers of hotels nationwide, today announced that it has provided a $20 million loan to equity sponsorship group FullG Capital for the acquisition of the Balfour Hotel Miami Beach (the “Balfour”), a – independent boutique located at 350 Ocean Drive in Miami Beach, Florida.

Located in Miami’s famous Art Deco district of South Beach and less than a block from the beach, the Balfour features 82 rooms spread over two towers, as well as an upscale restaurant and bar, a plunge pool exterior, free beach services and approximately 1,300 square meters. feet of roof terrace space. The hotel is managed by Driftwood Hospitality Management under a third party hotel management agreement.

Josh Zegen, Managing Director and Co-Founder of Madison Realty Capital, said, “Miami is no longer just a premier destination for domestic and international leisure travel, but has quickly become a growing hub for businesses and financial companies looking to relocate their headquarters. We are pleased to provide a flexible financing solution to facilitate the acquisition of a superbly located hotel in one of the most liquid and dynamic hotel markets in the country.

Drew Coles, President of FullG Capital, said, “Madison Realty Capital is a highly experienced lender to the Miami hotel market with a reputation for certainty of execution. We are pleased to leverage Madison Newbond’s attractive financing capabilities to complete the acquisition of Balfour.

Neil Luthra, Founding Partner of Newbond, added, “Madison and Newbond’s extensive operational experience enables us to effectively underwrite hotel loan opportunities and provide borrowers with a reliable financing partner in today’s volatile credit environment. today. The Balfour exemplifies this perfectly, and we are delighted to be working with the team at FullG Capital to bring their business plan to life.

Madison Realty Capital has significant experience investing in luxury hotel and condominium developments in Miami and South Florida. Notable transactions include an $85 million loan to The Related Group, BH Group, Teddy Sagi’s Globe Invest and Wanxiang Group Corporation for the acquisition and pre-development of a luxury condominium project on Miami’s Fisher Island Beach, a $76 million loan to The Related Group for the development of District 225, a 343-unit luxury condominium project in Miami, a $210 million loan to Fort Partners for the construction of the Four Seasons Hotel and Private Residences Fort Lauderdale, and a $105 million loan to Fort Partners for the acquisition and upgrade of the Four Seasons Hotel Miami.

Madison Newbond launched in November 2021 with an initial lending capacity of approximately $500 million and plans to scale up based on existing opportunities.

About Madison Realty Capital

Madison Realty Capital is a vertically integrated real estate private equity firm that, as of August 31, 2022, manages approximately $9.5 billion in total assets on behalf of a global institutional investor base. Since 2004, Madison Realty Capital has completed approximately $21 billion in transactions providing borrowers with flexible and highly customized financing solutions, strong underwriting capabilities and certainty of execution. Headquartered in New York, with an office in Los Angeles, the firm has approximately 70 employees across all disciplines of real estate investment, development and management. Madison Realty Capital has been named to Commercial Observer’s prestigious “Power 100” list of New York real estate players. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.

About Newbond Holdings

Newbond Holdings, founded by Neil Luthra and Vann Avedisian in 2021, is a real estate investment and operating platform focused on debt and equity investments in several types of hospitality-focused real estate products as well as investments in operating companies and related technology platforms. Newbond partners have completed over $15 billion in debt and equity transactions. As a vertically integrated operating and investing platform, Newbond is uniquely positioned to create significant value beyond the typical investment process through creative structuring, operations and brand development. single and multiple assets.