Madison Capital Group Secures $50.7 Million Loan For Multifamily Asset In Melbourne

The property asset involved in the context is a multifamily unit building located at 1934 South Babcock Street in Melbourne, comprising a total of 240 units. The transaction involved a loan amount of $50,700,000, categorized as an aggregate loan with senior loan and preferred equity terms.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $50,700,000
• Address: 1934 South Babcock Street
• Market: Melbourne
• Units: 240
• Lender: First Citizens Bank & Forum Capital Advisors
• Landlord: Madison Capital Group
• Brokers: Alec Fox & Edmund Aramayo - Berkadia
• Loan Type: Aggregate
• Loan Terms: Senior Loan and Preferred Equity

The key individuals involved in this transaction include Alec Fox and Edmund Aramayo, who represent Berkadia. They played a significant role in facilitating the financing through First Citizens Bank & Forum Capital Advisors on behalf of Madison Capital Group.