Madison Realty Capital Originates Loans on Two TTLC Projects
Madison Realty Capital (MRC) originated two loans totaling $77 million to The True Life Companies (TTLC) on Bay Area projects. The private equity firm first originated a $45-million loan for the acquisition and construction of 50 townhomes and 8,000 square feet of retail at 166-176 E. Fremont Ave. in Sunnyvale.
Additionally, the firm originated a $32-million loan to TTLC and 621 Capital to develop 55 townhomes at 27177 Mission Blvd. in Hayward.
Josh Zegen, MRC managing principal and cofounder, noted that although demand for single-family homes is expanding along with major Bay Area employers, “new housing is limited as a result of lengthy entitlement processes and restrictions on new development. We are pleased to further our presence in the Bay Area to originate flexible financing solutions for TTLC, an experienced residential developer, who successfully navigated complex entitlement processes to deliver competitively priced, attractive townhomes in high barrier to entry markets.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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