Madison Capital Group has secured debt and equity financing for two new luxury garden-style multifamily developments on Florida’s east and west coasts: Madison Bradenton in Bradenton (Sarasota MSA) and Madison Midtown in Melbourne (Space Coast). Berkadia Tampa secured the financing on behalf of the sponsor. Both properties will consist of 240 units and are slated for completion in 2026.
Berkadia secured $60 million in construction financing for Madison Bradenton, consisting of a $47 million senior loan provided by Peachtree Group and a $13 million mezzanine loan from Hickory CRE. The deal closed on July 27.
The second transaction was $50.7 million in aggregate financing for Madison Midtown, consisting of a $33.5 million senior loan provided by First Citizens Bank and $17.2 million in preferred equity from Forum Capital Advisors. This deal closed on Oct. 8.
Located at 301 Boulevard West, Madison Bradenton is in an area characterized by population growth, afflue
