On Tuesday evening, March 28th, Coastal Investment Company, a private equity real estate group based out Winter Park, FL and Madison Capital, a leading institutional multifamily and self-storage developer based out of Charlotte, NC hosted an exclusive dinner at the prestigious Flagler Steakhouse at The Breakers Hotel located at 2 South County Rd in Palm Beach, FL. The guest list which was not disclosed, included everyone from financial services industry leaders and private equity consultants to professional athlete MVP’s.
Coastal CEO, Greg Meerbaum and Madison CEO, Ryan Hanks, shared details of a substantial equity investment Coastal is making into Madison. This investment will give Madison the ability to recapitalize Cameron Property Company and other entities under the Madison holdings co to provide relief capital for distressed and opportunistic development projects throughout the Southeast. There are numerous developers and stalled projects out there in need of capital to continue operations through project completion.
“With interest rates continuing to rise, the tide has gone out and we’ve had our wet suits hanging in the closet long enough. After this Madison deal, Coastal will have over $200MM in deployed capital over the last 12 months since the first interest rate hike. While the capital markets are seized up, we know the opportunistic deals are out there.” Greg Meerbaum, Coastal CEO, shared.
Coastal will be hosting another event next week in Winter Park, Florida on April 4th, where they will share with their larger investor base more details about the investment strategy, and partnership with Madison.
For more information on Coastal and Madison, please visit their websites.