**Madison Newbond Provides $43M Loan for Ocean City Resort**
Madison Newbond, the institutional lending platform of Madison Realty Capital and Newbond Holdings, has issued a $43 million senior mortgage loan to a joint-venture partnership between Certares Real Estate Management and Monomoy Property Ventures. The loan supports the Ashore Resort & Beach Club in Ocean City, Maryland.
“We are excited to continue our relationship with Newbond to provide creative lending solutions for properties like Ashore, which benefits from its prime oceanfront location along the Atlantic Ocean,” said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital.
The newly renovated oceanfront resort features 250 guest rooms, including 15 suites, offering a variety of accommodations such as double queen, king, suites, and cabana rooms. The property boasts an array of amenities, including an outdoor swimming pool, state-of-the-art fitness center, business center, and 34,600 square feet of indoor meeting and event space. Conveniently located, the resort is within close proximity to major metropolitan areas such as Philadelphia, Baltimore, and Washington, D.C.
