Madison Realty raises $95m for recently launched debt fund
Madison Realty Capital has completed a $95.4 million first closing for its recently launched third debt fund, Madison Realty Capital Debt Fund III, according a filing with the SEC. The fund, which is targeting $600 million in investor commitments, will invest in commercial real estate loans, real estate mezzanine loans and preferred equity investments.
Madison’s first debt fund was an open-end fund launched in 2004 with total capital commitments of $310 million. Madison’s second debt fund is a closed-end vehicle that held its final close in August 2013 after surpassing its initial $300 million fundraising goal by raising $350.4 million.
Founded in 2004, New York City–based Madison Realty both originates and purchases middle-market loans in the United