Blackstone Lender Takes Over 517,000 SQFT Ford Point in Richmond Through Foreclosure
Why this matters
Capital markets activity continues to be defined by the rotation from bank balance sheets to non-bank lenders. Private credit funds have raised record dry powder; banks have tightened CRE underwriting standards for the sixth consecutive quarter. The result is a market where well-sponsored deals clear, and marginal credit pays a meaningful spread to do so. For LPs, the allocation conversation has shifted decisively toward real estate debt, with equity allocations being deployed more selectively into operator-led platforms.
Editorial analysis · Real Estate Trail Editorial
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Madison Capital and Meadow Partners have lost Richmond’s historic Ford Point, the waterfront former Ford assembly plant they bought for $103.7 million in 2022, to their lender through foreclosure. Their largest tenant…
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