Madison International Realty Acquires 50% Interest in Southern California Retail Center

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Apr 21, 2011, 09:39 ET

NEW YORK, April 21, 2011 /PRNewswire/ -- Madison International Realty, a leading real estate private equity firm, has acquired a 50% equity interest in Bridgeport Marketplace, a 126,769-square-foot mixed-use grocery-anchored retail center in Valencia, Calif., north of Los Angeles, the firm announced. The value of the transaction was approximately $10 million.

Developed in 2008, Bridgeport Marketplace is 94.5% leased to a diverse tenant base. The retail component comprises 97,786 square feet and is anchored by Valley Produce Market, Walgreen's and California Pizza Kitchen. The 28,953-square-foot medical office component is long-term leased to the Southern California Orthopedic Institute. The property is located at the intersection of Newhall Ranch Road and McBean Parkway in Valencia, an affluent bedroom community 30 miles north of downtown Los Angeles in the Santa Clarita Valley.

"Bridgeport Marketplace fits precisely into our strategy of acquiring partial ownership interests in class A assets from existing investors seeking an early exit," said Ronald Dickerman, Madison founder and president. "Bridgeport is a desirable retail asset that's well leased and located in a densely populated Los Angeles submarket with strong demographics."

Madison International Realty 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.

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 from its offices in New York, London and Frankfurt. Madison investments include the Chrysler East Building at 666 Third Avenue, 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.

SOURCE Madison International Realty