{"id":1004133294,"date":"2015-12-08T09:15:06","date_gmt":"2015-12-08T17:15:06","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004133294"},"modified":"2020-05-13T23:58:12","modified_gmt":"2020-05-14T07:58:12","slug":"madison-intl-gets-lucky-in-ireland","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/madison-intl-gets-lucky-in-ireland\/","title":{"rendered":"Madison Int&#8217;l Gets Lucky in Ireland"},"content":{"rendered":"<p>By Barbra Murray, Contributing Editor<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/St.-Stephen---s-Green-Shopping-Centre-Dublin.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004133295\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/madison-intl-gets-lucky-in-ireland\/st-stephens-green-shopping-centre-dublin\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/St.-Stephen---s-Green-Shopping-Centre-Dublin.jpg\" data-orig-size=\"2246,1498\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;13&quot;,&quot;credit&quot;:&quot;Peter Moloney&quot;,&quot;camera&quot;:&quot;Canon EOS 5D Mark II&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1404733708&quot;,&quot;copyright&quot;:&quot;\\u00a9 2015 PM Photography, all rights reserved.&quot;,&quot;focal_length&quot;:&quot;24&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.016666666666667&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"St. Stephen\u2019s Green Shopping Centre, Dublin\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/St.-Stephen---s-Green-Shopping-Centre-Dublin.jpg?w=1024\" class=\"alignright size-medium wp-image-1004133295\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/St.-Stephen---s-Green-Shopping-Centre-Dublin.jpg\" alt=\"St. Stephen\u2019s Green Shopping Centre, Dublin\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/St.-Stephen---s-Green-Shopping-Centre-Dublin.jpg 2246w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/St.-Stephen---s-Green-Shopping-Centre-Dublin.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/St.-Stephen---s-Green-Shopping-Centre-Dublin.jpg?resize=768,512 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/St.-Stephen---s-Green-Shopping-Centre-Dublin.jpg?resize=1024,683 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/St.-Stephen---s-Green-Shopping-Centre-Dublin.jpg?resize=1536,1024 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/St.-Stephen---s-Green-Shopping-Centre-Dublin.jpg?resize=2048,1366 2048w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/St.-Stephen---s-Green-Shopping-Centre-Dublin.jpg?resize=150,100 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/St.-Stephen---s-Green-Shopping-Centre-Dublin.jpg?resize=696,464 696w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/St.-Stephen---s-Green-Shopping-Centre-Dublin.jpg?resize=1068,712 1068w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/St.-Stephen---s-Green-Shopping-Centre-Dublin.jpg?resize=1920,1281 1920w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/St.-Stephen---s-Green-Shopping-Centre-Dublin.jpg?resize=630,420 630w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><a href=\"https:\/\/madisonint.com\/\" rel=\"nofollow\" target=\"_blank\">Madison International Realty<\/a> has just acquired a stake in a prime retail asset in Dublin. The real estate private equity firm purchased a 35.4 percent interest in St. Stephen\u2019s Green Shopping Centre, a popular 230,000-square-foot retail destination, from Irish Life Assurance plc in a $66 million deal.<\/p>\n<p>New York-based Madison is no stranger to Dublin\u2014the firm opened a London office in 2010 to source opportunities in the U.K. and Irish markets\u2014and had good reason for grabbing the opportunity to secure a stake in St. Stephen\u2019s Green. \u201cDublin is a capital city.  Urban retail is of keen interest and Dublin offers significantly recovered economics,\u201d Ronald Dickerman, Madison founder and president, told <em>Commercial Property Executive<\/em>.<\/p>\n<p>Sited in the prominent Grafton Street retail corridor, St. Stephen\u2019s Green first opened its doors in 1988, featuring three levels of local and international retailers. And with a 1,200-space parking facility, the property boasts the largest car park in Dublin.<\/p>\n<p>With Madison in the picture, St. Stephen\u2019s Green now has three owners, with Irish Life maintaining a 37.6 percent stake in the property, and a private third-party investor holding the remaining 27 percent interest. Madison plans to team with Irish Life to add value to the asset via a repositioning effort. And it\u2019s a good time for a makeover.<\/p>\n<p>\u201cWith robust economic growth forecast for the next few years and further population growth expected over the medium-long term, the outlook for consumer spending is favorable. Retail leasing in Dublin has picked up significantly over the last year and vacancy continues to come down, fueled by the economic recovery,\u201d Alex Lukesch, Madison director of European Investment, told <em>CPE<\/em>.<\/p>\n<p>Madison facilitated the acquisition of the St. Stephen\u2019s Green stake through Madison International Real Estate Liquidity Fund VI L.P., which launched in March 2015 with a target of $950 million.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Madison International Realty has acquired a stake in a prime retail asset in Dublin.<\/p>\n","protected":false},"author":969,"featured_media":1004133295,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16,21783,21742,21749],"tags":[],"class_list":["post-1004133294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","category-investment","category-latest","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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