Commercial mortgage investor Ladder Capital sold a group of five loans to Madison Realty Capital last week for somewhere between $150 million and $200 million, according to The Real Deal. The loans back multifamily properties in New York City, New Jersey and Los Angeles, and included both performing and non-performing debt. MRC completed the first closing round on its fifth private-equity debt fund with $700 million a few weeks before the coronavirus hit. The company last year closed its fourth debt fund with $1.136 billion.

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