Madison Realty Capital (MRC) is a leading real estate investment management firm based in New York City. Through the firm’s vertically integrated structure, MRC has closed in excess of $5.3 billion of real estate debt and equity transactions in the multifamily, retail, office and industrial sectors.

n Diverse platform focus with both debt and equity capabilitiesn Successfully acquired, managed and exited investments across 28 states since inception n Investments are acquired and managed through a series of vehicles, backed by premier institutional investors, as well as on a separate accounts basisn MRC’s platform consists of over 55 investment professionals with debt and equity expertisen In-house capabilities include originations, acquisitions, underwriting, servicing, legal, asset management, property management, construction management, development, capital markets and syndication.

CREATIVE DEBT SOLUTIONS

Madison Realty Capital

manages an extensive

and diversified portfolio

of high quality real

estate investments >>>

825 Third Avenue 37th Floor New York, NY 10022

646.472.1900

www.madisonrealtycapital.com

CONTACT:

Stephen NemeroffVice President, Acquisitions & Originationssnemeroff@madisonrealtycapital.com O: 646.747.7830 C: 917.833.9313

GENERAL PARAMETERS

n Individual Loan Amounts: $3,000,000 – $200,000,000

n Property Types: Multifamily, Retail, Office, Mixed-Use, Condos, Light Industrial, Student Housing, Medical Office, Hotels, and Self-Storage

n Geography: Major Markets Nationwide

n Loan to Value: Up to 85%

n Loan to Cost: Up to 90%

n Interest Rate: 8% to 12%

n Amortization: Interest Only

n Term: 6 Months to 3 years

n Recourse: Full Recourse and Non-Recourse Available

n Origination Fee: 1% to 3%

DEBT PLATFORM

n Origination of senior-secured loans, mezzanine loans and preferred equity investments for the acquisition and refinance of commercial real estaten Acquisition of non-performing loans and preferred equity investments from lenders and investors looking to deleverage and solidify their balance sheet

n Investment opportunities will capitalize on market conditions in which liquidity is limited and financing is difficult, time constrained opportunities, as well as special situations with non-traditional or complex underlying dynamics

SPECIALITY AREAS

Bridge Financing Capital for standard or non-stabilized assets. Can manage reserves for property that requires tenant improvements, leasing commissions, or construction completion.Time of The Essence Fast, reliable capital for time sensitive transactions. Can close deals in as quickly as one week.

Discounted Payoff Financing Capital to owners repurchasing their existing debt.

Opportunistic Capital Financing to owners cashing out of one property to purchase another property.

Note Financing Capital for the acquisition of individual or pools of notes.

Acquisition & Recapitalizations Short-term capital for property acquisitions and recapitalizations.

Complex / Story Deals Capital for special situational transactions.

High Leveraged Loans High proceed financing for acquisition, recapitalization, construction, and renovation.

Flushing CondosRecapitalization$50,000,000

Chelsea Multifamily Acquisition & Renovation Financing$34,000,000 Loan

Williamsburg Hotel Construction Loan$81,000,000 Loan

Midtown Manhattan ResidentialAcquisition Financing$18,900,000 Loan

Chelsea Condo DevelopmentRecapitalization$40,000,000 Loan

Doral Office BuildingNote Finance & Renovation$16,750,000 Loan

Recent projects include:

Rio Vista CondosRecapitalization$15,000,000 Loan

CREATIVE DEBT SOLUTIONS

Madison Realty Capital pursues debt investments in the middle-market by acquiring non-performing loans and preferred equity investments as well as originating senior-secured loans, mezzanine loans and preferred equity investments. The firm has sponsored various investment vehicles consisting of corporate and public pension funds, sovereign wealth funds, university endowments, foundations, fund of funds and high net worth individuals.

As part of this investment program, Madison Realty Capital has sponsored four institutionally-backed debt investment vehicles with total commitments of $1.5 billion. Since inception, these vehicles have closed in excess of $3.6 billion in debt transactions.

Morningside Avenue Condo DevelopmentConstruction Loan$20,000,000 Loan