Atlantic Center

Brooklyn, NY

Equity Monetization

Madison provides capital to owners seeking to monetize embedded equity value in their assets and portfolios in order to:

  • Realize embedded gains without selling assets
  • Redeploy equity capital into future opportunities
  • Diversify ownership in capital intensive assets and portfolios

Through direct joint ventures with Madison, owners can monetize embedded value in their assets as an alternative to traditional sales or recapitalizations where existing debt structures may restrict liquidity options. By partnering with Madison, owners can generate liquidity while maintaining operating and management control over their properties and portfolios.

NYC Core Retail Portfolio

Case Study

Madison acquired a 49.0% equity interest in 15 core retail properties in and around New York City. The portfolio contains 2.6 million square feet of retail space located in Manhattan, Brooklyn, Queens, The Bronx, Staten Island, and Hudson County, NJ. The sponsor, Forest City Enterprises, Inc., sought to monetize a portion of its embedded equity to generate liquidity on its balance sheet and position the company for future growth. Bringing on Madison as a medium term joint venture partner allowed the sponsor to monetize equity while also maintaining maximum flexibility for their longer term ownership plan for the portfolio.

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One California Plaza

Case Study

Madison acquired a 49.0% equity interest in One California Plaza, a 42-story trophy office tower in Los Angeles. An affiliate of Beacon Capital Partners, LLC, formerly full owner, holds the remaining majority interest and continues to manage the property. The building is located at 300 South Grand Avenue in the prestigious Bunker Hill district in downtown Los Angeles, near the government center and law courts and convenient to major thoroughfares and transportation. The tower is 74% leased to tenants including Bank of the West and law firms Skadden, Arps, Slate, Meagher & Flom LLP and Morgan Lewis & Bockius.

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Oslo Retail Portfolio

Case Study

Madison acquired a 30% interest in a prime high-street retail portfolio located in Oslo, Norway in joint venture with the existing sponsor Søylen Eiendom. Søylen and related companies previously held 100% of the assets. The portfolio, which is located in the premier shopping district of Oslo includes famous shopping center EGER as well as a 50% interest in well-known Steen & Strøm, Norway’s most established department store. This transaction provided the sponsor with the liquidity it needed to repay the seller credit related to the purchase of Steen & Strøm in 2011. The transaction not only strengthened the sponsor’s capital adequacy and liquidity, but also provided renewed strength to continue developing its commitment to luxury shops in central Oslo.

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