Madison Realty Capital aims to provide global institutional investors with superior risk-adjusted returns.

Madison Realty Capital is a vertically integrated private equity firm focused on US-based commercial real estate private credit strategies. As of March 31, 2024, the firm, including its controlled affiliates (collectively, “Madison”), manages $20.2 billion in assets under management on behalf of a global institutional investor base. Since 2004, Madison has completed $44.9 billion of securities and non-securities real estate transactions largely

through direct lending to a wide range of borrowers, acquiring non-performing loans and making preferred equity investments. Madison Realty Capital seeks to deliver value across every phase of the property lifecycle by providing customized financing solutions and strong underwriting capabilities that meet borrowers’ unique needs with speed and certainty of execution. 

Capital At Work



Josh Zegen


“Assets Under Management” is the combined gross assets under management of Sullivan Realty Capital, LLC and its commonly controlled affiliates as of a recent date.  Assets Under Management includes both securities and non-securities investments.  The calculation of Assets Under Management is different from the calculation of regulatory assets under management for purposes of each Form ADV filed with the SEC by Sullivan Realty Capital, LLC and its affiliated investment adviser.