industrial

Madison Realty Capital has provided $654m in senior and mezzanine financing to advance the completion of the logistics park in Old Bridge, New Jersey.

Lenders are gravitating toward properties where limited supply and resilient rent growth continue to drive strong credit opportunities.

The firm exceeded its initial target of $500m at final close and plans to originate senior, floating-rate loans through the strategy.

Madison Realty is confident in the long-term prospects for the industrial sector.

The firm will increase its origination of senior loans, mainly on multifamily and industrial properties.

The Annapolis, Maryland-based logistics specialist raised the fund as part of an effort to expand its direct lending capabilities in the industrial and logistics sectors.  

The firm’s recent report shows appetite remains unchanged with lenders prioritizing risk mitigation and experienced sponsors. 

The industrial outdoor storage specialist used the funding to refinance maturing loans and secure 64 properties in Alterra IOS Venture II.

The manager originated $20m in mezzanine financing for a Phoenix-area deal and closed a programmatic credit facility with industrial specialist Phoenix Investors.

Advance Realty and Greek Development will use the funding for phase two of Linden Logistics Center in New Jersey.