About this episode

Josh Zegen discusses the growth of Madison Realty Capital and its impact on the private credit landscape in real estate.

Season 8, Episode 5: How did Madison Realty Capital grow from a $10M fund into one of the most active private credit platforms in real estate?Today, we sit down with Josh Zegen, Co-Founder and Managing Principal of Madison Realty Capital, to break down how MRC built its lending business before private credit became an institutional asset class. Josh shares how the firm survived the GFC, became vertically integrated, and scaled into a major capital source for sponsors when banks pulled back.Whether you’re interested in distressed debt, construction lending, office-to-residential conversions, or today’s maturity wall, this episode is a must-listen. Join us as we dive into how Madison thinks about risk, rescue capital, borrower relationships, and finding opportunity in a volatile market.Shoutout to our sponsor, Lennar Investor Marketplace. New construction rental investments with comps, returns, and underwriting built in.TOPICS00:00 – Introduction to Josh Zegen and Madison Realty Capital05:00 – The Early Private Credit Opportunity10:53 – Surviving the GFC and Taking Over Assets15:45 – Becoming a Construction Lending Powerhouse19:00 – Back Leverage and Lending to Lenders24:12 –…

People in this episode

Guest: Josh Zegen

Topics covered

• private credit
• real estate
• distressed debt
• construction lending
• risk management
• market volatility

Keywords

• private credit
• Madison Realty Capital
• real estate finance
• construction lending
• distressed assets
• GFC
• investor demand

Sponsors

Lennar Investor Marketplace

Mentioned in this episode

Organizations: Madison Realty Capital

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