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Madison Realty exceeds $600m target

by Andrea Waitrovich

Madison Realty Capital has announced the final close of Madison Realty Capital Debt Fund III, which has raised $695 million in equity commitments. The discretionary private equity fund launched with a $600 million fundraising target.

MRC Debt Fund III originates commercial mortgage loans, mezzanine loans and preferred equity interests, and the fund also acquires nonperforming mortgages. With the ability to leverage and recycle capital, the fund has more than $2.5 billion of transaction capabilities. MRC’s previous debt vehicle, Sullivan Debt Fund, launched in 2012 and raised $350.4 million of equity commitments, exceeding its $300 million fundraising goal. In 2005, MRC launched its initial debt fund, which raised in excess of $300 million.

The final close follows the launch of another d

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