Madison Capital Group Secures $47 Million Construction Loan for Florida Multifamily Development

Madison Capital Group has secured a $47 million construction loan from Peachtree Group for Madison Bradenton, a 240-unit multifamily development located on the site of the former DeSoto Square Mall in Bradenton, Fla.

The project by multifamily development subsidiary Madison Communities will feature five four-story buildings and two carriage homes anchored by high-end amenities. The development will include a state-of-the-art clubhouse with a demonstration kitchen, a cyber lounge, a resort-style pool with cabanas, an outdoor kitchen with grilling areas, a fitness center, and a dog park.

“Madison Bradenton represents a significant investment in the future of Bradenton, providing modern living spaces and top-tier amenities,” said Ryan Hanks, chief executive officer of Madison Capital Group. “We appreciate Peachtree Group’s investment in revitalizing this area and look forward to the positive impact it will have on the community.”

Madison Communities, an affiliate of Madison Capital Group, focuses on developing high-quality, suburban, garden-style apartment communities across the Southeast.

Situated on Florida’s western coast, the Bradenton area offers access to a consumer market of more than 8 million people, interstate and rail systems, international airports, and a deepwater seaport.

Madison Bradenton marks the first ground-up development at the former DeSoto Square Mall, located on a 7.5-acre parcel southeast of a former Sears store. The Sears building, which closed in 2018, has been transformed into a state-of-the-art Go Store It self-storage facility, also developed by Madison Capital Group. This redevelopment initiative is part of a broader effort to revitalize the area, spearheaded by entities associated with Madison Capital Group.

The general contractor for the project is Madison Capital Group affiliate BenCo, the architect is Slocum Platts Architects, and the engineer is Cavoli Engineering Inc. Construction is set to begin immediately, with completion anticipated in early 2026.

Earlier this year, Madison Capital Group launched Madison Commercial, a division aimed at expanding its retail platform with a focus on net lease acquisitions and built-to-suit developments. Also according to reporting by The DI Wire, Madison Communities closed on the $35.5 million financing for Madison Oglethorpe, an upscale garden-style multifamily development located directly adjacent to Oglethorpe Mall in Savannah, Ga.

Madison Capital Group, a vertically integrated real estate development and investment firm headquartered in Charlotte, N.C., specializes in real estate investments with a focus on the self-storage and multifamily sectors. The company is the parent entity of Go Store It Self-Storage, a non-traded direct investment sponsor emphasizing self-storage, and Madison Communities, a vertically integrated real estate development and investment firm dedicated to crafting high-quality, suburban, garden-style apartment communities throughout the Southeast.

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