Madison International Realty Closes $510 Million Real Estate Liquidity Fund IVBy Madison International Realty, PRNE
Monday, March 14, 2011
NEW YORK, March 15, 2011 - Madison International Realty announced the final closing of its latest
fund, Madison International Real Estate Liquidity Fund IV, LP (MIRELF IV),
with $510 million of equity commitments.
Madison International Realty is a real estate private equity firm that
acquires illiquid and/or partial ownership interests, such as joint venture,
limited partner and co-investment interests in Class A properties and
portfolios from investors seeking an early exit strategy. The firm also
provides equity for recapitalizations, debt restructurings, and to monetize
embedded equity in existing ownership entities. Madison invests as a
principal on behalf of its private equity funds.
"The final closing of Madison International Real Estate Liquidity Fund
IV, our newest fund, is a significant milestone for us," said Ronald
Dickerman, Madison founder and president. "We're very pleased with the broad
support we received from our domestic and international investors."
The fund exceeded its $400 million target with its final closing of $510
million, Dickerman said.
With more than $1 billion in capital commitments, Madison invests
exclusively in stabilized core quality properties and portfolios in the U.S.,
U.K. and Western Europe. The firm sources potential investment interests from
"Our product sourcing channels have never been busier. We believe Madison
is well capitalized and ready to assist holders of partial ownership
interests with their liquidity needs," Dickerman said.
MIRELF IV investments include the Chrysler East Building at 666 Third
Avenue in New York. Madison acquired additional partnership interests in the
trophy Manhattan office tower, increasing its stake in the property to 48.9%
Other Madison portfolio investments include 300 Park Avenue and 520
Madison Avenue in New York City; One Bush Street, San Francisco; and the
Devonshire House, London.
About Madison International Realty
Madison International Realty (www.madisonint.com) is a leading
liquidity provider to real estate investors worldwide. Madison provides joint
venture and preferred equity capital for real estate owners and investors
that are looking to de-lever their properties; seek an exit strategy; or
where existing sponsors seek to sell a portion of their ownership position.
The firm provides equity for recapitalizations, partner buyouts and capital
infusions; and acquires joint venture, limited partner and co-investment
interests as principals. With $1 billion in capital commitments, Madison
invests only in secondary transactions and focuses solely on existing
properties and portfolios in the U.S., U.K., and Western Europe. Founded in
1996, the firm has offices in New York, London and Frankfurt, Germany.
Michelle Manoff, Rubenstein Public Relations, +1-212-843-8051, mmanoff at rubensteinpr.com
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