Madison Realty Capital Lands $285M for New Class A Brooklyn Apartments

An affiliate of Madison Realty Capital lands a $285M bridge loan from TPG Real Estate Credit for Greenpoint Central, a 473-unit Class A community in Brooklyn.

By: AXL Media

Published: Mar 12, 2026, 6:51 AM EDT

Source: https://www.multihousingnews.com/

Refinancing and Financial Strategy

The bridge loan represents a significant recapitalization for the property, which consists of two interconnected buildings at 65 and 75 Dupont St. * Debt Replacement: The loan refinances two prior construction notes from Elliott Management totaling $179.2 million originated in early 2024.

Capital Velocity: Walker & Dunlop’s team, led by Aaron Appel and Dustin Stolly, structured the deal to support lease-up reserves and equity repatriation.

Institutional Strength: The deal follows the September closing of Madison Realty Capital Debt Fund VI LP, which raised over $2 billion in equity commitments.

Greenpoint Central: Asset Profile and Specs

Designed by Hill West Architects, Greenpoint Central is a mixed-income, mixed-use asset that leverages the now-expired 421(a) Option C and Inclusionary Housing programs.