{"id":1004147990,"date":"2016-07-13T00:04:30","date_gmt":"2016-07-13T08:04:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004147990"},"modified":"2020-05-13T23:54:35","modified_gmt":"2020-05-14T07:54:35","slug":"madison-closes-largest-international-fund-exceeds-target","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/madison-closes-largest-international-fund-exceeds-target\/","title":{"rendered":"Madison Closes Largest International Fund, Exceeds Target"},"content":{"rendered":"

By Gail Kalinoski<\/p>\n

\"Ronald<\/a>

Ronald Dickerman, Madison International Realty<\/p><\/div>\n

New York<\/strong>\u2014With an expanded diverse institutional investor base, Madison International Realty<\/a> has closed its largest fund with $1.39 billion in equity commitments, well above its $950 million target.<\/p>\n

Ronald Dickerman, Madison\u2019s founder & president, said the global roster of institutional investors for Madison International Real Estate Liquidity Fund VI LP included endowments, foundations, public and private pension funds, sovereign wealth funds, family offices, insurance companies and high net worth individuals from Europe, Asia, the Middle East, Australia and the U.S. The fund launched in March 2015.<\/p>\n

\u201cThe success of the Fund VI capital raise demonstrates the confidence investors have placed in Madison\u2019s highly differentiated direct secondary investment strategy, which targets ownership stakes in prime commercial properties and portfolios in capital cities of the U.S., U.K., and Western Europe,\u201d Dickerman said in a statement. \u201cOur strategy is proven to produce asymmetric returns in numerous economic cycles, with minimal volatility.\u201d<\/p>\n

Dickerman added that the real estate private equity firm believes its \u201cstrategy is counter-cyclical during periods of economic uncertainty. With Fund VI, we executed a global fund raise and received robust and broad support from current and new investors.\u201d<\/p>\n

The firm, which has offices in New York, London and Frankfurt, Germany, specializes in acquiring ownership stakes, joint venture, private REIT and listed property shares in prime properties and portfolios in its target markets. It 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.<\/p>\n

\u201cOur strategy allows owners and sponsors to monetize embedded equity without requiring a sale of their properties,\u201d Dickerman noted. \u201cThe volatility of the market has created opportunities for us, with Madison deploying some $700 million of equity over the past year.\u201d<\/p>\n

Madison Fund VI has already deployed about $400 million in prime investments in the past year, including the acquisition in March of an ownership stake in 550 Kearny St.<\/a> in San Francisco. The fund paid $103.7 million to Brickman Real Estate to become a co-owner of the 10-story, 194,000-square-foot office building in the city\u2019s Financial District.<\/p>\n

In December, the fund acquired a 35.4 percent stake in St. Stephen\u2019s Green Shopping Centre, a 230,000-square-foot shopping center in Dublin<\/a> from Irish Life Assurance plc for $66 million. The center, located in the city\u2019s Grafton Street retail corridor, opened in 1988 and has three levels of shopping and one of the largest parking facilities in Dublin.<\/p>\n

The fund also made two separate investments in HBS Global Properties, Hudson Bay Co.\u2019s real estate joint venture with Simon Property Group. The first was made in November, when Madison was one of three third-party investors in the JV\u2019s equity with a $150 million investment. In March, HBC announced it sold an additional $50 million of its equity in HBS Global Properties to Madison International Realty.<\/p>\n","protected":false},"excerpt":{"rendered":"

Madison International Realty closed its Liquidity Fund VI with $1.4 billion in equity commitments.<\/p>\n","protected":false},"author":1068,"featured_media":1004147992,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,16,21783,23891,1600,21742,10],"tags":[],"class_list":["post-1004147990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-international","category-investment","category-national","category-new-york","category-latest","category-northeast"],"acf":[],"yoast_head":"\nMadison Closes Largest International Fund, Exceeds Target - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/madison-closes-largest-international-fund-exceeds-target\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Madison Closes Largest International Fund, Exceeds Target\" \/>\n<meta property=\"og:description\" content=\"Madison International Realty closed its Liquidity Fund VI with $1.4 billion in equity commitments.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/madison-closes-largest-international-fund-exceeds-target\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-07-13T08:04:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-14T07:54:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/Ron-portrait-high-res-sm.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"835\" \/>\n\t<meta property=\"og:image:height\" content=\"753\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/madison-closes-largest-international-fund-exceeds-target\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/madison-closes-largest-international-fund-exceeds-target\/\",\"name\":\"Madison Closes Largest International Fund, Exceeds Target - 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