Madison Realty Capital snags $63M loan from TPG for Brooklyn rental

Madison Realty Capital has landed a $63 million financing from the private equity firm TPG for a property in Clinton Hill. The debt package from TPG includes a $17 million gap mortgage. Part of the financing replaces an $11.8 million mortgage Madison received from Emigrant Bank last year for the property at 504 Myrtle Avenue. Madison originally filed its plans to develop the rental, called the Posthouse, on the former site of the Pratt Station […]

Source: Real Estate

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