Madison Realty Capital announced the closing of its $1.13 billion Madison Realty Capital Debt Fund IV, confirmed spokesman Tom Nolan.
The closing surpasses the fund's original $1 billion target. The previous fund, Madison Realty Capital Debt Fund III, closed at $695 million in 2016, surpassing its $600 million target.
The fund "originates and acquires commercial mortgage loans, mezzanine loans and preferred equity interests," a news release said.
Investors include the $33.2 billion Texas Permanent School Fund, Austin.
