NASDAQ OMX

Madison Realty Capital Provides $167.5 Million of Financing to Restructure Madison Square Park Tower, Luxury Condo Project at 45 East 22nd Street

Dela

MRC Team Delivers Financing Solution to The Continuum Company on Accelerated Basis, Closing Quickly

NEW YORK, June 11, 2018 (GLOBE NEWSWIRE) -- Madison Realty Capital (MRC) closed a $167.5 million first mortgage loan collateralized by Madison Square Park Tower, a luxury condominium development located at 45 East 22nd Street in the Madison Square Park neighborhood of Manhattan.  In a complex multi-party transaction MRC rapidly delivered financing to Ian Bruce Eichner of The Continuum Company, which resolved a dispute with previous partners.

The financing paves the way for the borrower to continue the successfully ongoing condominium sales process at Madison Square Park Tower.  To date, Madison Square Park Tower has sold 58 units for a total of approximately $400 million.

"With this transaction we have streamlined the capital stack and provided Continuum with the flexibility needed to maintain the current sales at this one-of-a-kind development," said Josh Zegen, Co-Founder and Managing Principal of MRC.  "Our hallmarks - speed, flexibility, and certainty of execution in complex situations, supported by thorough and diligent underwriting - are all on display through this deal and we're pleased to facilitate the borrower's business plan by providing the necessary financing."

Madison Square Park Tower is among the most desirable addresses in the market, and almost impossible to replicate given the accumulation of air rights required to build it.  Prominently located in the Flatiron District, Madison Square Park Tower offers the highest available views of Madison Square Park, as well as unobstructed views of the East River, the Hudson River, World Trade Center, and the Statue of Liberty.

The project is led by a best-in-class development team including Plaza Construction as general contractor, Kohn Peterson Fox Associates as design architect, HWA as executive architect, and the Eklund Gomes Team of Douglas Elliman as the residential sales brokerage team.  Transforming the downtown skyline, the soaring 83-unit tower is a sculptural glass silhouette standing at 65 stories and rising 777 feet.  The striking exterior wraps around modern, elegant interiors designed by the celebrated Martin Brudnizki Design Studio.  Floor-to-ceiling windows enhance the dramatic views.

The collection of amenities throughout five floors consists of a fitness center with boxing and private training suite, golf simulator, basketball court, children's playroom, library, billiards, cards room, terrace with outdoor grill, and two gracious entertaining spaces including Fifty Four, a lounge and catering kitchen on the fifty-fourth floor.

About Madison Realty Capital (MRC)
MRC is a New York-based real estate investment firm that pursues real estate equity and debt investments in the middle market.  Founded in 2004, MRC has invested in approximately $8.0 billion of transactions in the multifamily, retail, office, industrial and hotel sectors.

Media inquiries, contact
Great Ink Communications: (212) 741-2977
Tom Nolan -  tom@greatink.com
Eric Waters - eric.waters@greatink.com

 



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Madison Realty Capital via Globenewswire

Om

NASDAQ OMX
NASDAQ OMX



Följ NASDAQ OMX

Abonnera på våra pressmeddelanden.

Senaste pressmeddelandena från NASDAQ OMX

Karolinska Development's portfolio company Asarina Pharma is listed on Nasdaq First North24.9.2018 08:00Pressmeddelande

STOCKHOLM, 24 September 2018. Karolinska Development's portfolio company Asarina Pharma will today be listed on Nasdaq First North in Stockholm. In connection with the listing, Asarina Pharma is issuing 6.8 million shares. The issue price of SEK 21 gives Asarina Pharma a pre money valuation of SEK 172 million. Conditioned that the over-allotment option of an additional 0.35 million shares is fully exercised, Asarina Pharma will be provided with a total of SEK 150.2 million before issue costs. Asarina Pharma is a Swedish biotech company focused on chronic diseases associated with the menstrual cycle. The portfolio company is developing the drug candidate sepranolone as a treatment for premenstrual dysphoric disorder (PMDD) and premenstrual migraine. A Phase IIb study is currently underway in PMDD with expected completion by the end of 2019. Furthermore, Asarina Pharma is planning a clinical Phase IIa study in menstrual migraine for the first half of 2019. Karolinska Development is a pas

Karolinska Development's portfolio company Asarina Pharma is listed on Nasdaq First North24.9.2018 08:00Pressmeddelande

STOCKHOLM, 24 September 2018. Karolinska Development's portfolio company Asarina Pharma will today be listed on Nasdaq First North in Stockholm. In connection with the listing, Asarina Pharma is issuing 6.8 million shares. The issue price of SEK 21 gives Asarina Pharma a pre money valuation of SEK 172 million. Conditioned that the over-allotment option of an additional 0.35 million shares is fully exercised, Asarina Pharma will be provided with a total of SEK 150.2 million before issue costs. Asarina Pharma is a Swedish biotech company focused on chronic diseases associated with the menstrual cycle. The portfolio company is developing the drug candidate sepranolone as a treatment for premenstrual dysphoric disorder (PMDD) and premenstrual migraine. A Phase IIb study is currently underway in PMDD with expected completion by the end of 2019. Furthermore, Asarina Pharma is planning a clinical Phase IIa study in menstrual migraine for the first half of 2019. Karolinska Development is a pas

Immunicum AB (publ) meddelar att Pawel Kalinski och Inge Marie Svane har valts in i det vetenskapliga rådet17.9.2018 08:00Pressmeddelande

Pressmeddelande 17 september 2018 Immunicum AB (publ) meddelar att Pawel Kalinski och Inge Marie Svane har valts in i det vetenskapliga rådet Immunicum AB (publ; IMMU.ST) meddelade i dag att två ledande immun-onkologiska experter har valts in i bolagets vetenskapliga råd för att fungera som strategiska resurser för Immunicum under bolagets fortsatta kliniska utveckling av sin ledande produkt, ilixadencel. Pawel Kalinski, MD, PhD, vice ordförande för translationell forskning vid den medicinska institutionen vid Roswell Park Comprehensive Cancer Center, och Inge Marie Svane, MD, PhD, professor, chef för det kliniska cancerforskningsprogrammet på medicinska fakulteten vid Köpenhamns universitet, chef för Center för cancerimmunterapi (CCIT) samt överläkare inom onkologi, Herlevs universitetssjukhus har valts in i rådet. - Vi är hedrade att ha experter med specialistkompetens inom området immunonkologi och cellterapi i vårt vetenskapliga råd, vilka kan erbjuda ytterligare vägledning när det

Immunicum AB (publ) Announces Appointment of Pawel Kalinski and Inge Marie Svane to Scientific Advisory Board17.9.2018 08:00Pressmeddelande

Press Release 17 September 2018 Immunicum AB (publ) Announces Appointment of Pawel Kalinski and Inge Marie Svane to Scientific Advisory Board Immunicum AB (publ; IMMU.ST) announced today the appointment of leading oncology experts to its Scientific Advisory Board with the addition of Pawel Kalinski, MD, PhD, Vice Chair for Translational Research within the Department of Medicine at Roswell Park Comprehensive Cancer Center, and Inge Marie Svane, MD, PhD, Professor, Head of the Clinical Cancer Research programme, Faculty of Health Sciences, University of Copenhagen, Director, Centre for Cancer Immunotherapy (CCIT), and consultant in Oncology, Herlev University Hospital. Both Scientific Advisory Board members will serve as a strategic resource to Immunicum as the company continues to advance the clinical development of its lead product, ilixadencel. "We are honored to have such highly specialized experts in the field of immuno-oncology and cell therapy join our Scientific Advisory Board a

Hoylu AB: HOYLU HIRES NEW CTO, SATOSHI NAKAJIMA AND ANNOUNCES EXPANSION INTO JAPAN14.9.2018 08:30Pressmeddelande

Malmo, Sweden, September 14, 2018 - Hoylu, a leading enterprise collaboration company, announced today Satoshi Nakajima will join Hoylu in the newly created position, as Chief Technology Officer and President of Hoylu Japan. Nakajima will guide the strategic technology direction and innovation of Hoylu while also leading the new Hoylu office in Tokyo, Japan. "Satoshi is a visionary and world-class technologist who has substantial experience in delivering world class innovations. He is joining the Company as we are extending our reach and expanding into Japan," said Stein Revelsby, CEO. "Satoshi's extensive experience in strategy and delivering technology that support a great user experience will make an immediate impact on the company." Nakajima will serve as President of Hoylu Japan and will report to Stein Revelsby. His leadership will strengthen customer relations and help develop new business among emerging and established Japanese companies while strengthening the global position

Hoylu AB: HOYLU ANSTÄLLER SATOSHI NAKAJIMA SOM NY CTO OCH EXPANDERAR TILL JAPAN14.9.2018 08:30Pressmeddelande

Malmö, Sverige, 14 september 2018 - Hoylu, ett ledande företag inom samarbetsmjukvara för företagsmarknaden annonserar idag att Satoshi Nakajima tar anställning som CTO (Chief Technology Officer) och President för Hoylu Japan. Nakajima kommer styra den strategiska inriktningen för företagets produkter och leda innovationsarbetet. Han kommer också leda Hoylus nyöppnade kontor i Tokyo, Japan. Satoshi är en visionär teknologiexpert som har stor erfarenhet av att skapa innovativa lösningar. Han kommer till Hoylu samtidigt som vi utökar marknaden till att även täcka in Japan säger Stein Revelsby, VD. "Satoshis långa och gedigna erfarenhet i strategiska frågor och tekniska lösningar med fokus på användarupplevelse kommer få stor betydelse för oss." Nakajima kommer även att bli President för Hoylu Japan och kommer rapportera till Stein Revelsby. Hans ledarskap kommer stärka existerande kundrelationer och utveckla nya affärer på den japanska marknaden och samtidigt bidra till att flytta fram p

I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.

Besök vårt pressrum