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Madison Realty Capital has raised greater than $2bn (£1.52bn) for the sixth iteration of its US actual property debt fund.
The Madison Realty Capital Debt Fund VI can have a $6-8bn funding firepower by way of leverage and capital recycling.
The fund closed with commitments from each new and current institutional traders from North America, the Center East, Europe and Latin America. It is going to goal multifamily and residential properties, in addition to opportunistic alternatives in inns, pupil housing, land, industrial, retail and workplace sectors.
Learn extra: HSBC expands direct lending enterprise into Europe
“The profitable shut of our second consecutive fund of greater than $2bn throughout a protracted interval of turbulent market situations is a testomony to the arrogance our traders have positioned in Madison after twenty years in enterprise,” mentioned Adam Tantleff, managing principal of Madison Realty Capital.
“Institutional traders are more and more targeted on personal credit score, which is a quickly rising portion of many portfolios.
“Our early entry into the trade, mixed with our complete platform and monitor document, uniquely positions the agency to seize the substantial demand for well-capitalised, non-bank lenders as uncertainty persists inside the actual property and broader credit score markets.”
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The fund has already accomplished greater than $3.79bn in deal quantity throughout 26 transactions and is roughly 45 per cent known as on its capital commitments.
“We proceed to see engaging alternatives to ship direct financing to new and current debtors along with increasing our capabilities to offer different personal credit score lenders with distinctive flexibility and artistic financing options together with senior and notice on notice financing choices,” added Josh Zegen, managing principal and co-founder of Madison Realty Capital.
Learn extra: Trade veterans launch actual property debt advisory agency
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