Josh Zegen, Adi Chugh talk private credit and writing big checks

Few people know the private credit real estate business like Josh Zegen and Adi Chugh. “When we started 22 years ago the word private credit didn’t exist,” said Zegen, who co-founded Madison Realty Capital in 2004. “We had to kind of create the market in many ways.” Chugh, by contrast, is a relative newcomer. But he’s made a big name for himself in a short amount of time. He made one of the biggest office loans in Miami history in 2024 when he lent $565 million to refinance 830 Brickell, and last year cut a $1 billion check to finance […] This article originally appeared on The Real Deal. Click here to read the full story.