Madison Realty Capital, Cottonwood Group Provide $211M Construction Loan in N.J.

By: Brian Pascus

Cottonwood Group closed on a $211 million financing package with Madison Realty Capital for LIDO Asbury Park, a Jersey Shore oceanfront luxury condominium being developed by Inspired by Somerset Development. The financing will support the project as it advances into vertical construction. LIDO Asbury Park will introduce 112 residences and nearly 50,000 square feet of indoor and outdoor amenities to the Jersey Shore. Read the full article in Commercial Observer.

ABOUT COTTONWOOD GROUP: Headquartered in Los Angeles, Cottonwood is a private equity real estate investment firm focused on equity and debt opportunities across all property sectors and geographies. The firm’s ability to act as a lender, investor, operator and sponsor of real estate investments of all sizes and complexities is fundamental to delivering a risk-adjusted absolute return for investors. Investing out of its discretionary funds and separate institutional accounts, Cottonwood targets U.S. real estate opportunities with a capitalization of up to $1 billion.