Madison Realty Capital Provides $279M Loan for Austin Residential Portfolio
Madison Realty Capital (MRC) has provided a $278.5 million construction loan for a portfolio of four assets located in Austin, Texas, Commercial Observer has learned.
The financing was provided to Reger Holdings, a New York-based, real estate investment and development company led by CEO Gordon Reger. The firm contributed significant cash equity in the deal.
Austin has been a beneficiary of increased investment both pre- and post-COVID. Now a perennial investor favorite, the city is experiencing explosive growth, supported by a diverse economy and growing tech employment from such heavyweights as Apple, Facebook and Oracle.
The portfolio comprises the EastVillage, a 425-acre, master-planned residential community in the heart of Austin’s northeast tech corridor, and The Linden Residences, a 28-story condominium building in Downtown Austin.
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