DAILY DOSE: February 24, 2021
Posted on 02/24/2021
1. Former U.S. Treasury Secretary Steven Mnuchin is planning to start an investment fund that would focus on financial technology and entertainment. The fund is expected to raise money from a wide range of investors including Gulf-based sovereign wealth funds. Former U.S. Treasury Secretary Timothy Geithner after leaving his post went on to become President of Warburg Pincus. Jack Lew, the last U.S. Treasury Secretary before Mnuchin, went to become a Managing Partner at private equity firm Lindsay Goldberg.
2. On a conference call, Square CEO Jack Dorsey said he will “double down” on commitment to bitcoin. Payments company Square believes cryptocurrency is an instrument of economic empowerment. Square Inc. in total has purchased about 3,318 bitcoin at an aggregate purchase price of US$ 170 million. Bitcoin now represents 5% of Square’s total cash and equivalents.
Toby Moskovits Williamsburg Hotel Goes Into Bankruptcy
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Madison Realty Capital Provides $53 Million Construction Financing to Heritage Equity Partners for Multifamily Development in Brooklyn
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Madison Realty Capital
Madison Realty Capital Provides $53 Million Construction Financing to Heritage Equity Partners for Multifamily Development in Brooklyn
Madison Realty Capital Provides $53 Million Construction Financing to Heritage Equity Partners for Multifamily Development in Brooklyn
NEW YORK, Jan. 19, 2021 (GLOBE NEWSWIRE) Madison Realty Capital, a New York City based real estate private equity firm focused on debt and equity investment strategies, today announced it has provided $53 million in construction financing to Heritage Equity Partners, led by Toby Moskovits and Michael Lichtenstein, for a 150-unit ground-up multifamily development located at 875 4
th Avenue between 32
nd and 33
rd Streets, in “South Park Slope,” also known as the Sunset Park neighborhood of Brooklyn, NY.