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Three Queens Properties Nab Financing

NEW YORK CITY—Representing several commercial real estate sectors, the assets all are in Jamaica or Flushing.

By Rayna Katz | Updated on July 13, 2015

NEW YORK CITY—Madison Realty Capital has provided $37 million of financing collateralized by three properties in the Queens neighborhoods of Jamaica and Flushing. The borrower needed immediate funding to close a separate acquisition in New York, and MRC was able to rapidly provide the required liquidity through a deal backed by the Queens assets.  MRC closed the transaction within six days of sourcing the opportunity.

“The velocity of transactions in today’s market requires buyers to move quickly, and we’re pleased to provide this customized financing solution to help close a time-sensitive deal,” says Josh Zegen, co-founder and managing principal, MRC. “The borrower approached us based on our speed and certainty of execution, and we are familiar with these Queens submarkets as an active real estate lender and owner there.  With that background and the support of our vertically integrated platform, we were able to underwrite and close the transaction quickly.”

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