KUALA LUMPUR, Nov 9 -- Madison Realty Capital, a vertically integrated real estate private equity firm and Newbond Holdings (Newbond), a vertically integrated real estate investment and operating platform have announced the launch of Madison Newbond.
Madison Newbond is an institutional lending platform that will provide first mortgages, mezzanine loans and preferred equity to hotel owners and developers nationwide.
According to a statement, the partnership launched with approximately US$500 million of initial lending capacity and will add scale in line with the opportunity. (US$1 = RM4.150)
Managing Principal and Co-Founder of Madison Realty Capital, Josh Zegen said: “We are enthusiastic about joining forces with Newbond to expand our product offering tailored to meet the evolving needs of hospitality real estate owners and operators.”
Meanwhile, Founding Partner at Newbond, Neil Luthra, said: “Madison’s substantial resources coupled with Newbond’s extensive hotel underwriting capabilities will best position the platform to identify and capitalise on exciting opportunities in the hospitality space.”
Madison Newbond will build on Madison Realty Capital’s institutional lending platform and deep relationships as well as Newbond’s hospitality industry expertise and strong operational knowledge.
The partnership will offer unique financing programmes to new and existing borrowers across the hospitality spectrum from limited-service hotels to ultra-luxury resorts and will target opportunities including transitional lending and ground up developments across major metropolitan markets.
Madison Realty Capital and the principals of Newbond have significant experience lending and investing in the hospitality sector. The principals of Newbond have completed over US$15 billion of debt and equity investments.
More details at www.madisonrealtycapital.com.
-- BERNAMA
No comments:
Post a Comment