Madison Realty Capital Supplies $61M Bridge Loan

Madison Realty Capital originated a $61 million bridge loan for a newly completed multifamily asset in northern New Jersey. The financing was used to fund lease-up of Braddock Park West in North Bergen, N.J.

The property contains 135 units. The article notes the deal closed three years after Sanz Property Management secured a $52.5 million construction loan from Hall Structured Finance for the 11-story building.