Madison Realty Capital has completed a $14.5 million refinancing with Hello Living that’s collateralized by a mixed-use rental property located at 1357 Flatbush Avenue in Brooklyn.

Hello Living, an experienced developer and repeat Madison Realty borrower, constructed a seven-story, 37,133-square-foot, mixed use rental building at the site that includes 36 apartment units and 7,000 square feet of grade-level and cellar-level retail space that are 95 percent complete. The transaction, which was completed in a rapid seven-day timeframe, will repay the borrower's existing debt and provide additional liquidity.

"Our Brooklyn market expertise and familiarity with the borrower allowed us to evaluate and underwrite this deal within an extremely prompt timeframe," noted Josh Zegen, Co-Founder and Managing Principal of MRC. "Speed and execution remain two of our fundamental hallmarks as a lender and both are demonstrated here as this entire transaction was completed and delivered in a week's time. "

"Madison Realty Capital's innovative and flawless input, along with their reliable execution, are invaluable resources for an experienced developer like us," said Eli Karp, CEO for Hello Living.

The apartment units on the development will be located on floors two through seven accounting for 23,504 square feet. The unit mix will include  studios, one-bedrooms, two-bedrooms, and  three-bedroom apartments. Residential units will include open unit layouts with floor-to-ceiling windows, high end finishes, stainless steel appliances, large private terrace, insulated, triple-paned doors and windows.

Amenities for the project include a fitness center, private yard, and resident courtyard. Madison Realty has invested in approximately $9 billion of transactions in the multifamily, retail, office, industrial and hotel sectors.