NEW YORK, Feb. 23 12, 2022 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, announced today that it has originated two loans totaling $101.9 million for CGI Merchant Group, a global investment management firm focused on real estate and private equity. The two loans include a $66.4 million loan for The Gabriel Miami, a luxury hotel in downtown Miami, and a $35.5 million loan for 3480 Main, an office building in Miami. class A in Coconut Grove.
“We are thrilled to offer these two custom loans to CGI Merchant Group in Miami, where we have significant scale and knowledge of the market,” said Josh Zegen, Managing Director and Co-Founder of Madison Realty Capital. “Miami continues to see increased demand from tourists as well as businesses relocating to South Florida. CGI Merchant Group has a strong portfolio of projects in the region, and we look forward to working with them again in the future.
The Gabriel Miami, located at 1100 Biscayne Boulevard in the center of Miami’s downtown business district and the heart of the city’s vibrant entertainment and cultural scene, is a 129-key Curio Collection by Hilton boutique hotel with 14,440 square feet of upscale dining space and 11,520 square feet of prime signage along Interstate 395. The hotel offers a spa, sauna, fitness center, outdoor pool, fitness center, event space and multiple dining options. The Gabriel Miami is part of the 64-story Marquis Building of luxury condominiums overlooking Biscayne Bay.
Located in Miami’s affluent Coconut Grove neighborhood, 3480 Main completed construction in 2020 and was designed by world-renowned architects Arquitectonica. The modern mixed-use office offers 44,685 square feet of office space for lease across five floors, 10,177 square feet of retail space, two upscale restaurants, and an outdoor rooftop terrace. The retail and rooftop spaces are fully leased to Lebanese restaurant Amal.
“Madison Realty Capital provided the reliability and on-time execution certainty we needed to execute each of these projects,” said Raoul Thomas, Founder and CEO of CGI Merchant Group. “We look forward to an ongoing relationship with Madison Realty Capital to execute our hospitality and office development strategy in Miami.”
Surya Capital Partners brokered the transaction.
About Madison Realty Capital
Madison Realty Capital is a vertically integrated real estate private equity firm that, as of December 31, 2021, manages approximately $8 billion in total assets on behalf of a global institutional investor base. Since 2004, Madison Realty Capital has completed approximately $20 billion in transactions providing borrowers with flexible and highly customized financing solutions, strong underwriting capabilities and certainty of execution. Headquartered in New York, with an office in Los Angeles, the firm has approximately 70 employees across all disciplines of real estate investment, development and management. Madison Realty Capital has been frequently named to the Commercial Observer’s prestigious “Power 100” list of New York City real estate players and is consistently cited as one of the top construction lenders, among other industry accolades. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.
About CGI Merchant Group
CGI Merchant Group is a minority-owned global investment manager focused on private equity and hospitality and commercial real estate investments. Since its founding in 2006 by Raoul Thomas, the firm has executed over $2.5 billion in historically affiliated capital transactions. Based in Miami, CGI’s diverse contrarian thinking and investing team seeks thematic, value-driven capital dislocation opportunities to build generational wealth and deliver long-term value – at our investors, our shareholders and the communities in which we invest and operate. To learn more about CGI, visit cgimg.com.