Day: July 19, 2021

NEW YORK, July 19, 2021 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced it has provided a $105 million loan to Fort Partners for the acquisition and modernization of the Four Seasons Hotel Miami located at 1435 Brickell Avenue in Brickell, Florida.  The loan was originated from Madison’s income strategy that offers transitional loans to institutional sponsors. In 2019, Madison provided a $210 million loan to Fort Partners for its construction of the Four Seasons Hotel and Private Residences Fort Lauderdale.

“We are pleased to continue our work with Fort Partners, a best-in-class developer with a strong track record in South Florida, and deliver a timely, customized financing solution for this exciting project,” said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital. “Fort Partners, in close collaboration with Four Seasons, have put forth a strong plan that will modernize the property focused on enhancing room configurations, pool deck and lobby, and upgrade the food & beverage options by partnering with renowned chefs and restaurateurs.  Moreover, Brickell is an attractive, established neighborhood in Miami that caters to both tourists and business clients given its proximity to South Beach. We look forward to supporting Fort Partners in the future.”

“This is our second large loan with Madison Realty Capital, and again they executed quickly and delivered certainty of execution. Madison offered a highly competitive rate with a flexible structure that will allow us to effectively implement our renovation and repositioning plan for this strategic asset,” said Michael Conaghan, partner with Fort Partners LLC.

The 221-key hotel is part of a 70-story mixed-use tower that includes class-A office space, residential condominiums, an Equinox health club, retail space and a parking garage.  Millennium Partners developed the property in 2003 and Handel Architects led the design. The acquisition marks the fourth Four Seasons property in Fort Partners’ Florida portfolio alongside hotels located in Surfside, Fort Lauderdale, and Palm Beach.

JLL Managing Director Jim Dockerty, Senior Managing Director, Kevin Davis, and Managing Director, Mark Fisher represented Fort Partners in the deal.

 

About Madison Realty Capital 

Madison Realty Capital is a vertically integrated real estate private equity firm that manages approximately $6 billion in total assets on behalf of an institutional global investor base. Since 2004, Madison Realty Capital has completed more than $15 billion in transactions in the U.S. providing reputable borrowers with flexible and highly customized financing solutions, strong underwriting capabilities, and certainty of execution. Headquartered in New York City, with offices in Los Angeles and Miami, the firm has over 60 employees across all real estate investment, development, and property management disciplines. Madison Realty Capital has been frequently named to the Commercial Observer’s prestigious “Power 100” list of New York City real estate players and is consistently cited as a top construction lender, among other industry recognitions. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.

Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
madisonrealty@gasthalter.com

 

SAN FRANCISCO, July 19, 2021 (GLOBE NEWSWIRE) — Swift Navigation, a San Francisco-based tech firm redefining GNSS (Global Navigation Satellite System) and precise positioning technology for autonomous vehicles, automotive, mobile and mass-market applications, today announced a partnership with Tokyo-based KDDI Corporation. KDDI is an international telecommunications company on the forefront of using technology innovations to provide a high-quality and high-reliability network that meets the communication needs of its global customers. This partnership will be key in bringing Swift’s precise positioning technology to the Japan market and adds KDDI as a key partner in the global expansion of Skylark precise positioning service—currently available across the continental U.S. and Europe in partnership with Deutsche Telekom.

Traditionally, precision GNSS corrections were provided using real-time kinematics (RTK) techniques, requiring a high density of reference stations and with limited fault tolerance. By partnering with Swift, KDDI is able to utilize Swift’s patented wide area corrections solution, a hybrid of precise point positioning (PPP) and RTK. The solution delivers wide area corrections with a low density of reference stations, fast convergence, centimeter-level accuracy, all from a highly-reliable service delivered seamlessly via the cloud.

Accuracy that previously could benefit a few pieces of equipment on a jobsite—or in a field—is now accessible to millions of users across continents. The accuracy of the Skylark precise positioning service enables lane-level positioning at fast convergence times to achieve required levels of safety, reliability, integrity and availability required by autonomous, mass-market and mobile applications. Skylark is GNSS hardware-agnostic, giving customers a choice in which GNSS sensor is used and enabling users across industries to benefit from higher accuracy by simply subscribing to Skylark. This ease of access and higher accuracy output has benefits across industries. Automotive manufacturers achieve lane-level accuracy in the sensor suite with high levels of integrity. Delivery companies improve operational efficiencies and cost savings with route optimization. Mobile app companies improve analytics using accurate data to create better maps and higher performing apps. Industrial applications automate equipment and improve efficiency with reliably accurate positioning.

“Swift Navigation is delighted to be partnering with KDDI to expand Skylark’s precise positioning in Japan and benefit customers around the globe,” said Timothy Harris, Co-Founder and CEO at Swift Navigation. “KDDI has always been at the forefront of bringing innovative technological solutions to its customers and Swift is pleased to add value to their businesses through the reliable accuracy delivered from Skylark.”

“We believe that Swift’s high-precision positioning solution further empowers our business capabilities in mobility space and contributes to the expansion of business coverage into smart vehicles,” said Hiromichi Matsuda, Executive Officer, Business Exploration & Development at KDDI CORPORATION. “The accuracy afforded from precise positioning unlocks opportunities for a multitude of businesses and industries and adds value to our customers in Japan.”

To learn more about how Swift and KDDI’s solution can be easily integrated into your application, visit swiftnav.com/kddi.

ABOUT SWIFT NAVIGATION

Swift Navigation provides precise positioning solutions for automotive, autonomous vehicle, mobile and mass-market applications. What began as the GNSS industry’s first low-cost, high-accuracy, real-time kinematic (RTK) receiver has evolved into a Swift Navigation ecosystem of positioning solutions for autonomous applications. From the continental GNSS precise positioning service delivered from the cloud by Skylark™, the hardware-independent, integrated software solution that is the Starling® positioning engine, to the centimeter-level accurate Piksi® Multi and ruggedized Duro® and Duro Inertial RTK receivers, Swift Navigation is enabling a future of autonomous vehicles to navigate and understand the world. Learn more online at swiftnav.com, follow Swift on Twitter @Swiftnav

ABOUT KDDI

KDDI is a telecommunication service provider in Japan, offering both mobile and fixed-line communications. With its well-established base of over 58 million customers, and through mobile services and shops offering its “au” brand, KDDI is expanding its services into the “Life Design” business, which includes e-commerce, fintech, nationwide electric power utility services, entertainment and education. With a 60-year history, KDDI is now focusing on creating smart infrastructure through IoT technologies and open innovation with partners and start-up companies in diverse industries. KDDI is accelerating the global growth of its telecommunications consumer business, with operations in Myanmar and Mongolia, and in the global ICT business with the “TELEHOUSE” brand.

Press Contact:
Swift Navigation
press@swiftnav.com