Madison Realty Capital (MRC), an institutionally-backed real estate private equity firm focused on real estate equity and debt investments in the middle markets, announced the first closing for Madison Realty Capital Debt Fund III LP.
Launched in 2014, MRC Fund III is the firm’s third real estate debt investment fund. Adam Tantleff, managing principal of MRC, made the announcement.
The discretionary private equity fund raised a total of $145.4 million of capital commitments from a diverse group of investors, including public pension funds, corporate pension funds, university endowments, family offices, and wealth managers.
“It’s gratifying to have the continued support of our investors,” Tantleff said. “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 $600 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 percent leverage in its portfolio.