Surpasses Target With Diverse Investor Base Including Sovereign Wealth Funds, Corporate and Public Pension Funds, Insurance Companies, Endowments, More
NEW YORK, Sept. 18, 2013 /PRNewswire/ — Madison Realty Capital (MRC), an institutionally backed commercial real estate investment firm and asset manager specializing in flexible debt and equity financing solutions for middle-market transactions throughout the United States, is pleased to announce the final closing of Sullivan Debt Fund L.P. (the "Fund") with $350.4 million in capital commitments, significantly exceeding its initial target of $300 million. Limited Partners in the Fund are sovereign wealth funds, corporate pension funds, public pension funds, insurance companies, endowments, real estate fund of funds, and family offices.
MRC pursues real estate debt strategies through origination and acquisition of commercial mortgages on multifamily, office, retail, and industrial properties, focusing on middle-market transactions in the $10-50 million range. MRC targets transactions that are time sensitive or transitional in nature, providing certainty of execution to borrowers and note sellers. The platform combines asset-based underwriting with full in-house capability to control, own, and manage real estate. MRC's lending activities are national in scope, while debt acquisitions have been focused on major markets on the East Coast. To date, the Fund has completed $383.5 million of transactions, and will have capacity to invest in excess of $1 billion given leverage and capital recycling provisions.
"We are pleased to have attracted such an exceptional and well-rounded LP base. We feel that this has been the direct result of having established ourselves as one of the premier middle-market capital providers and operators in the country," said Adam Tantleff, a Managing Member of MRC.
Madison's vertically integrated platform combines in-house construction, asset, and property management capabilities that help maximize the value of assets owned or financed by Sullivan, and provides greater flexibility with respect to exit strategies.
Madison Realty Capital (MRC)
Founded in 2004, Madison Realty Capital is an institutionally backed commercial real estate firm specializing in flexible debt and equity financing solutions for middle-market transactions throughout the United States. MRC invests in the multifamily, retail, office and industrial sectors and has completed in excess of $1.25 billion of transactions in 28 states to date. MRC's vertically integrated platform encompasses origination, servicing, asset management, property management, and construction management expertise to maximize the value of its investments.
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