Madison Realty Capital debt fund raises $695M Lending fund exceeds $600M goal, will originate mortgages loans and mezz debt
Madison Realty Capital closed off its latest debt fund after raising $695 million – “substantially exceeding” an initial goal of $600 million, the real estate investmen上海龙凤论坛 t and lending firm said Tuesday.
The fund, Madison Realty Capital Debt Fund III LP, is the firm’s third institutional debt vehicle and raised money from “a diverse group of investors” including public and corporate pension funds, foundations and endowments, and asset managers.
Madison closed the $695 million fund after “surpassing our initial [$600 million] target by a considerable margin,” company managing pr爱上海同城论坛 incipal Adam Tantleff said in a statement.
The debt fund originates commercial mortga阿拉爱上海同城 ge loans, mezzanine loans and preferred equity interests while also acquiring “non-performing mortgages,” Madison said, and has “more than $2.5 billion of transaction capabilities.”
Madison s first debt fund, launched in 2005, raised more than $300 million, and was followed by the Sullivan Debt Fund in 2012, which raised more than $350 million.
The firm’s total ass新上海贵族宝贝论坛 ets “now approach $3 billion,” Tantleff added, with Madison looking to “find and e上海千花社区 xploit” investment opportunities “in the underserved middle markets across asset classes.”
Madison recently entered contract on a pair of vacant warehouses, near the Industry City office complex in Sunset Park, for $37 million.[……]