Madison Announces Final Close Of Madison International Real Estate Liquidity Fund V At $825 Million

$340 million already invested in prime assets

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Apr 02, 2014, 10:50 ET

NEW YORK, April 2, 2014 /PRNewswire/ -- Madison International Realty, a leading real estate private equity firm, announced the final closing of its latest fund, Madison International Real Estate Liquidity Fund V, LP (Madison V), with $825 million of equity commitments from a global roster of institutional investors.

The final closing of Madison V exceeded its $750 million target, according to Ronald M. Dickerman, Madison's Founder and President.

"We are very pleased with the robust and broad support we received from investors around the world who continue to find our unique class A, direct secondary strategy both differentiated and compelling. Madison V is our third consecutive fund to be oversubscribed," Dickerman said. "Our success in this latest capital raise underscores our continued ability to source, underwrite and execute on investments which deliver an asymmetric risk/return in the class A real estate space."

Madison International Realty specializes in acquiring partial ownership and joint venture interests in class A properties and portfolios in primary markets in the U.S., U.K. and Western Europe. The firm also provides joint venture equity to owners, sponsors and investors who are seeking to monetize existing equity positions, restructure balance sheets, or to replace existing capital partners.

Madison V has already deployed approximately 40% of its capital commitments into closed investments including One California Plaza, a 42-story, class A office tower in downtown Los Angeles and the Saks Fifth Avenue retail store in Union Square in San Francisco. International investments include Songbird Estates Plc, which controls London's Canary Wharf, the New Century House office building in Dublin, Ireland, and the Statoil Office Complex in Oslo, Norway.

"By utilizing our well-established product sourcing channels, we have already identified a dynamic pipeline of prospective investment opportunities and we anticipate maintaining this pace of activity for the balance of the year," Dickerman said.

Madison V involved a global capital raise to a diverse group of investors worldwide, he said. In addition to U.S. public pension funds, corporate pensions, insurance companies, endowments, foundations and family offices, Madison investors include institutions in Europe, Middle Eastern sovereign wealth funds and institutional investors in Asia and Australia.

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. Madison invests only in secondary transactions and focuses solely on existing properties and portfolios in the U.S., U.K., and Western Europe. Madison has offices in New York, London and Frankfurt, Germany, where the firm operates under the name of Madison Real Estate Beteiligungsgesellschaft mbH.

SOURCE Madison International Realty