Real estate-focused private equity firm Madison International Realty has closed its latest fund, Madison International Real Estate Liquidity Fund IV LP, with $510 million in commitments. New York-based Madison acquires illiquid or partial ownership interests in properties and portfolios from investors seeking an early exit. The firm also provides equity for recapitalizations and debt restructurings.
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 investors worldwide.
“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% from 38.5%.
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.