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Real Estate

Madison Realty Capital closes latest debt fund at $1.1 billion

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.