Term Sheet: Madison’s industrial layering; Invesco’s senior swap; S3’s investor relations addition

Madison Realty Capital is putting its debt strategy to work this year with the close of a $654 million industrial refinancing deal; Invesco is updating its top real estate credit and equity ranks with Bert Crouch set to exit for a leadership role at Apollo; S3 Capital is keeping sights on further real estate credit expansion with the appointment of a fundraising head; and more in today’s Term Sheet, exclusively for our valued subscribers.