Madison Realty Capital Closes $2 Billion Property Debt Fund
Bloomberg reported that Madison Realty Capital closed its latest debt fund at $2.04 billion in equity commitments, short of the $2.25 billion goal it set in 2022 and about the same size as its predecessor. It’s the largest US-focused real estate debt fund to close so far in 2024. Madison’s latest fund originates and invests in loans for properties in major US metro markets, with a focus on residential real estate as well as opportunistic deals in hotels, student housing, industrial, retail and office buildings, according to the statement. The firm offers direct property loans, construction financing and lender financing. Madison now manages more than $21 billion in assets. With the new fund, Madison has already completed 26 transactions totaling $3.79 billion and has called about 45% of its capital commitments.
