Madison Realty Originates Funds for Two Condo Builds
The construction financing for both Southern California condo projects totals $35.1 million.
Madison Realty Capital has originated funding for two condo projects. The construction financing totals $35.1 million for the two projects. The deals include a $15.1 million construction loan for a condominium at 2750 4th Avenue in San Diego and a $20 million construction loan for a condominium at 154 North La Peer Drive in Beverly Hills.
The 2750 4th Avenue project property will feature two-to four-bedroom residential units and will include an on-site parking garage. The Bankers Hill submarket of San Diego is considered one of the most desirable urban neighborhoods in the area given its proximity to the world-famous Balboa Park and numerous nearby restaurants, cafes and bars.
All units at the 154 North La Peer Drive project will include two bedrooms, two bathrooms and a powder room with a shower to accommodate an optional third bedroom or den. With just four units per floor, each will occupy a corner to provide optimal natural light. The property will also feature a parking garage with two assigned parking spaces per unit.