NEW YORK CITY-Locally based Madison Realty Capital, a short-term lender, named Eric Scheffler managing director and general counsel. Scheffler will manage the firm's corporate legal strategy and assist in overseeing Madison's loan portfolio.

The news comes on the heels of MRC's recent announcement that it closed approximately $70 million in commercial financings during the month of November, as GlobeSt.com exclusively reported. In total, the firm has financed approximately $600 million in real estate loans since the firm's inception in 2005.

In addition to performing his duties as general counsel, Scheffler's responsibilities will include structuring and closing loans, asset management and managing the relationships of Madison's counterparties and borrowers. "Eric's appointment underscores Madison's commitment to building an institutionally-based business and infrastructure, and helps to solidify our position as a leading lender of short-term bridge loans targeted to commercial real estate companies," notes Josh Zegen, managing partner and co-founder.

Scheffler recently spent more than two years with Bear, Stearns & Co. Inc. as associate director in its Closing and Structuring Group within Bear Stearns Commercial Mortgage, Inc. While at BSC, he worked with originators, underwriters, capital markets and securitization counsel to structure, close and securitize fixed and floating rate conduit loans for national commercial properties. Prior to working at BSC, Scheffler spent 11 years in various real estate related roles at Winston & Strawn, Blank Rome Tenzer Greenblatt LLP and Scheffler, King & Bender LLP.