Press

Renaissance Development Group was able secure a $3.2 million "cash-out" refinance on their fully approved, 336-unit development in Ft. Myers, FL set to break ground late 2024. Mark McClure of GenX Capital Partners underwrote the financing with one of their private equity partners out of Boca Raton FL.

The $37.75 million construction financing was originated and underwritten in a collaboration between Mark McClure at GenX Capital Partners, a real estate investment banking firm and direct lender based in Miami, and Capital Stack CRE Finance, a commercial real estate financing intermediary headed by long time Boston-based real estate veteran Brian Sheehan. The transaction was funded by a New York City-based real estate hedge fund.

Mark McClure, a Miami developer who grew up in Cape Elizabeth, has closed on a $24 million loan for the ongoing construction of his high-end, 45-unit condominium complex, the Mark, in Cumberland Foreside. McClure is part of a development team with Shinberg Consulting, Jeff Pollack, Paula Wallem and DeStefano & Associates. The project, which is 40% completed, has so far been financed by internal equity and bridge financing from Titan Funding in Boca Raton, Fla. The construction loan was arranged by Daniel Eidson of Concord Summit in partnership with Builders Capital, McClure said.

The purchase is part of a $53 million plan by Millennia CEO Frank Sinito to renovate and redevelop the 295-unit apartment building in the Theater District into a higher-end property to target millennials, a generation that favors downtown living. Miami-based GenX Capital said it closed $9 million in joint venture equity with a Boston based private equity fundas part of the deal.

​Miami based GenX Capital Partners along with CapStack Finance out of Boston, MA recently closed with NY based real estate hedge fund, on a $37 million construction loan for the $53 million Hilton Tapestry Collection Hotel and 44 unit condo development located on the Finger Lakes in Canadaguia, New York

Developer Mark McClure, managing director for real estate investment firm GenX Capital Partners (http://www.GenXCP.com), is set to transform the landscape of personal vehicle storage in the State of Maine with the introduction of Luxury Motor Toys (http://www.LuxuryMotorToys.com), a groundbreaking brand that offers high-end condominium garages designed to cater to the discerning needs of vehicle enthusiasts.

New financing platform will provide unprecedented leverage for stabilized acquisition and development deals, allowing CRE sponsors to forego expensive equity and control more of their deals.

Lipe Property Co. has the funding in place from GenX Capital to break ground on a 97-unit multifamily development at Milwaukee and Chicago avenues. (Lipe Property Co.)

GenX Capital Partners LLC, a Miami-based direct lender for commercial real estate transactions, announced Wednesday that one of its private equity funds out of Boston helped close a $4 million bridge loan that enables Saco Island West LLC to complete its redevelopment of Building 3 at the Saco Mill Complex in Saco

Mark McClure closed on the $12.7MM acquisition loan and construction line with a Boca Raton private equity fund that will initially help fund these 27 homes and included an option for an additional 22 in the future.