Madison Rust

Senior Associate

Madison Rust joined ExCap in 2022 and focuses on the fund’s acquisition activities including sourcing, underwriting, due diligence, and deal execution. In addition, she assists in the capital structuring of Fund III’s direct investments.

Prior to joining the team, Madison served as an Investment Associate at WindMass Capital, a real estate private equity firm focused on acquiring and managing value-add multifamily properties. During her time at WindMass, Madison assisted in all aspects of the acquisition, asset management, and investor relations activities for over 7,000 units, totaling $1.2 billion in value. She began her career at CBRE, where she handled underwriting and valuation for proposed and existing properties including multifamily, retail, residential subdivisions, and self-storage facilities. Her team received the DFW Valuation Team of the Year award in 2017 and, as an individual, she appraised over 125 properties in her time with CBRE.

Madison graduated Magna Cum Laude from the University of Texas at Dallas and is a member of Urban Land Institute and Ladies in Commercial Real Estate group. She is also involved with the local non-profit, In The City for Good, which focuses on growing and empowering the South Dallas community through real estate developments and renovations.