C-III debt fund holds $159m final close

C-III Capital Partners has held a $159 million final close for its C-III High Yield Real Estate Debt Fund III, according to a filing with the SEC.

C-III Capital Partners was formed in 2010 and is the loan servicing and funds-management unit of Island Capital Group. C-III also is actively involved in primary and special loan servicing through its subsidiary, C-III Asset Management. The firm’s first fund, C-III High Yield Real Estate Debt Fund I, began marketing in 2010 and closed in 2012.