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Madison Realty Capital raises $695M for latest fund

Madison Realty Capital (MRC), announced the final closing of Madison Realty Capital Debt Fund III LP, the firm’s third institutional real estate debt investment vehicle.

Adam Tantleff, Managing Principal of MRC, said the discretionary private equity fund raised a total of $695 million in capital commitments, substantially exceeding its original goal of $600 million.

ADAM TANTLEFF
ADAM TANTLEFF

MRC sourced capital for the fund from a diverse group of investors, including public pension funds, corporate pension funds, foundations and endowments, family offices, and wealth managers.

“MRC is pleased to announce the final closing of our third fund at a level surpassing our initial target by a considerable margin,” Tantleff said.

“We appreciate the tremendous support which we received from both new and existing investors in the institutional community over the course of this raise. As our firm assets now approach $3 billion we continue to find and exploit market opportunities which exist in the underserved middle markets across asset classes. Our vertically-integrated platform, encompassing both debt and equity expertise, allows us to take advantage of special situation lending opportunities which others may not have the capabilities to act on.”

MRC Debt Fund III originates commercial mortgage loans, mezzanine loans and preferred equity interests, and acquires non-performing 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, also exceeding its $300 million goal.

In 2005, MRC launched its initial debt fund which raised in excess of $300 million.

MRC is a New York-based real estate investment firm that pursues real estate equity and debt investments in the middle market and has $2.7 billion in firm assets.

Founded in 2004, MRC has invested in excess of $4.5 billion of transactions in the multifamily, retail, office, industrial and hotel sectors.

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