Madison Realty Capital (MRC) has held the first closing for Madison Realty Capital Debt Fund III with USD145.4 million of capital commitments.
Launched in 2014, MRC Fund III is the firm's third real estate debt investment fund.
"It's gratifying to have the continued support of our investors," says Adam Tantleff, managing principal of MRC. "All of the limited partners in the first closing of MRC Fund III have been investors in our previous debt funds, or invested as LPs in our equity acquisition and development deals. Our fully-integrated real estate platform has been successful in maintaining the volume and quality of middle-market investment opportunities, and the performance of MRC's portfolio has helped MRC continue to build on its loyal investor network."
MRC Fund III, which is targeting USD600 million in investor commitments, will originate and acquire commercial mortgage loans, mezzanine loans and preferred equity interests in real property, and may employ up to 50 per cent leverage in its portfolio.