Madison Realty Capital Launches Sixth Debt Fund

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Fresh off a record 2021, Madison Realty Capital has launched its sixth debt fund vehicle and is seeking to continue its volume momentum through market volatility.

The vertically integrated real estate private equity firm recently filed paperwork for its Madison Realty Capital Debt Fund VI, which has a $2.25 billion target. The fund has raised $914.4 million so far, according to the regulatory filing

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Officials for MRC declined to comment. 

MRC, which completed $6.4 billion in total deal volume last year, completed the final close of its fifth debt in January with $2.08 billion in equity commitments to exceed its $1.75 billion target. 

Seventy percent of institutional investors in Madison’s prior fund re-upped into Fund V with the vehicle also receiving 52 percent of capital commitments from new limited partners domestically and abroad. 

The fourth fund from MRC raised $1.14 billion in equity commitments before its final close in late 2019. 

Since its inception in 2004, MRC has completed more than $20 billion in debt and equity transactions. The New York-based firm has been in expansion mode of late, opening a Los Angeles office in 2018 and another in the L.A. market in Century City last year as part of an overall West Coast growth strategy.

Andrew Coen can be reached at acoen@commercialobserver.com