Leadership

Gregory Michel

Director, Chief Compliance Officer

Yehuda Hecht

Managing Director, Chief Financial Officer

Michael Siefert

Managing Director

Carey J. Flaherty

Co-Chief Investment Officer

Ronald M. Dickerman

President

Derek O. Jacobson

Co-Chief Investment Officer

Michael Chen

Managing Director

Nausheen Hussain

Director of Human Resources

Senior Leadership Team

Madison’s Senior Executives have a combined 95 years of real estate experience and bring to Madison a cohesive, vast network of industry relationships.

Ronald Dickerman

Ronald M. Dickerman

President

Mr. Dickerman is the President and Founder of Madison International Realty, a global, fully integrated real estate private equity firm managing approximately $3.1 billion on behalf of a global roster of institutional investors with offices in New York, London, and Frankfurt. Madison has become a global leader in providing joint venture equity to real estate owners and investors in class A properties and portfolios in the US, UK, and Western Europe. Madison also focuses on capital partner replacements, equity monetizations, and recapitalizations of commercial properties and portfolios. Madison’s investments have included such iconic assets as the Seagram Building, New York, Devonshire House, London and the Trianon Office Tower, Frankfurt. In addition, Madison is an active investor in public real estate companies including Canary Wharf, London, and Parkway Properties. It has sponsored numerous private investment vehicles on behalf of global institutional investors including pension funds, insurance companies, endowments, foundations, sovereign wealth funds, and high net worths. Madison’s portfolio spans 14 countries, 69 transactions aggregating $45.8 billion in asset value.

Mr. Dickerman has over 30 years of experience focused on the analysis, acquisition, financing, management and disposition of income-producing assets such as real estate, mortgage products, healthcare properties, leased equipment, media properties, oil and gas, as well as other specialty assets.  Prior to founding Madison in 2002, Mr. Dickerman was formerly an investment banker in the Real Estate / Partnership Finance Group at Smith Barney, Harris Upham & Co., Inc., where he was responsible for the origination, analysis, structuring, acquisition, asset management, disposition and marketing of real estate and other limited partnerships.

Mr. Dickerman is an active member of the Association of Foreign Investors in Real Estate (AFIRE) and a frequent speaker on the topic of secondary investments and liquidity at real estate conferences and universities throughout the country.  Mr. Dickerman earned an MBA degree from Columbia University’s Graduate School of Business and a BA degree in Economics from Tufts University. He serves as a Trustee of the Horace Mann School.

 

Michael Siefert

Managing Director

Mr. Siefert is a Managing Director and head of Madison’s European business platform, based in Frankfurt. His primary responsibility is sourcing investment opportunities in the European market. He has 15 years of experience in investment related fields focusing on indirect investments in Real Estate and Venture Capital. He maintains an extensive network of real estate professionals worldwide. Prior to joining Madison in 2003 he served for four years at GUB, a German venture capital firm. As head of the department, Mr. Siefert was responsible for investor relations and sales and was a member of the executive committee. Mr. Siefert earned a BA degree in European Business from Fachhochschule Trier (Germany) and a BS degree in Marketing from Galway-Mayo Institute of Technology (Ireland).

Michael Siefert
Carey Flaherty

Carey J. Flaherty

Co-Chief Investment Officer

Mr. Flaherty serves as Managing Director with primary responsibility for the oversight of Madison’s global portfolio and asset management function. During his 13-year tenure with the firm, Mr. Flaherty has also held positions across the firm’s investment underwriting and execution platform, most recently as head of U.S. investments. Prior to joining Madison in 2003, Mr. Flaherty worked in the Real Estate Investment Banking group at Deutsche Bank. While there, Mr. Flaherty analyzed real estate private equity investments and structured debt products for the firm’s balance sheet, managed investment funds, and third party clients. Mr. Flaherty received a BA degree from Columbia University.

Derek O. Jacobson

Co-Chief Investment Officer

Mr. Jacobson serves as Managing Director, with primary responsibility for the oversight of Madison’s European investment activities including origination, underwriting, and execution of transactions for Madison’s managed funds. Mr. Jacobson works on all aspects of financial analysis, property due diligence, and transaction structuring with specific focus on closed-end funds and equity recapitalizations in Germany, the U.K., and Madison’s other non-U.S. markets. Prior to joining Madison in 2004, Mr. Jacobson was a financial analyst for Taurus Investment Holdings, an international real estate private equity firm, where he served in the acquisitions and underwriting group. Mr. Jacobson is a fluent German speaker and received a BA degree from the University of North Carolina at Chapel Hill.

Derek Jacobson
Michael Chen

Michael Chen

Managing Director

Mr. Chen serves as Managing Director, with primary responsibility for developing and executing Madison’s fundraising strategy and serving as liaison with the investor community. He has over 15 years of experience in real estate finance and maintains an extensive network of global investors. Prior to joining Madison in 2014, Mr. Chen spent four years at Paramount Group, Inc., a vertically integrated, class A office owner/operator, focused on New York City, San Francisco and Washington, D.C. As co-head of the Capital Markets department, Mr. Chen was responsible for developing and executing Paramount’s global fundraising. Prior to that, Mr. Chen was an Executive Director in J.P. Morgan’s Real Estate and Lodging Investment Banking Group and worked in both the New York and London offices from 2003 to 2010. He also held various financial positions with Marriott International and Crestline Capital prior to 2003. Mr. Chen graduated with a BA from the University of Michigan and received an MBA from the University of North Carolina.

Yehuda Hecht

Managing Director, Chief Financial Officer

Mr. Hecht serves as Chief Financial Officer with oversight of Madison’s Finance and Accounting team. His responsibilities include, financial reporting, tax structuring of investments and credit facility management. Mr. Hecht has over 18 years of finance and accounting experience. Prior to joining Madison in 2007, Mr. Hecht acted as a Regional Finance Director for Tishman Speyer Properties, responsible for the financial quality control of an office real estate portfolio valued at $4 billion. In addition, Mr. Hecht spent six years as part of the portfolio finance group at ING Clarion where his responsibilities included financial reporting and performance analysis for residential, opportunistic and value added commingled real estate funds and three years at Ernst & Young where he was a senior auditor servicing various publicly traded real estate clients. Mr. Hecht earned a BS in Accounting from Yeshiva University, Sy Syms School of Business and is a Certified Public Accountant.

Yehuda Hecht
Nausheen Hussain

Nausheen Hussain

Director of Human Resources

Ms. Hussain serves as Director of Human Resources of Madison with oversight of the firm’s Human Capital management processes. Her responsibilities include recruitment, organizational development and coaching of Madison’s talent base. Ms. Hussain has over 14 years of human resources advisory experience. Prior to joining Madison in 2014, Ms. Hussain acted as a Vice President for Credit Suisse in the human resources function for the Fixed Income businesses in the Americas and EMEA regions. Prior to that, Ms. Hussain spent six years as Human Resources Advisor at Deutsche Bank for Global Banking and Transaction Banking groups in the Americas regions. Ms. Hussain earned an MA at Teachers College, Columbia University in Organizational Psychology and attended New York University, School of Education, where she earned a BS in Culture, Communication and Marketing.

Gregory Michel

Director, Chief Compliance Officer

Mr. Michel is a Director and serves as Chief Compliance Officer, where he is primarily responsible for developing and maintaining Madison’s compliance program as well as the coordination, oversight, and quality control of all aspects of financial reporting for the Madison investment vehicles. Prior to joining Madison in 2007, he spent over seven years at PricewaterhouseCoopers LLP as an audit manager in the Investment Management Group. Mr. Michel managed audit engagements of investment companies, including all types of open and closed-end funds, both domestic and international, fund of funds, private equity, and hedge funds. His responsibilities included maintaining a proficient working knowledge of U.S. GAAP, Investment Company accounting, and SEC reporting. Mr. Michel attended James Madison University, where he earned a BS in Accounting and is a Certified Public Accountant.

Micheal

Our Professionals

Schaffler for Website

Andrew Schaffler

Director of Listed Real Estate Securities

Andrew Schaffler serves as Director of Listed Real Estate Securities, with oversight over all aspects of Madison’s Public Market Investment activities. Prior to joining Madison in 2015, Mr. Schaffler served on the Portfolio Management team at Cohen & Steers where he spent 9 years, including 5 years assisting in the management of a long/short real estate hedge fund. He also previously served as an Analyst at Neuberger Berman, LLC in its Funds Portfolio Analytics group based in New York. Mr. Schaffler is a graduate of Cornell University, with a Bachelors in Policy Analysis and Management. He also holds a CFA and is a member of the New York Society of Securities Analysts.

Alex Lukesch

Director

Mr. Lukesch serves as Director on the investment team and heads Madison’s London office with primary responsibility for the sourcing, underwriting and execution of Madison’s equity transactions including all aspects of financial analysis, property due diligence and transaction structuring with a focus on the United Kingdom and Ireland. Mr. Lukesch works closely with both the New York and Frankfurt offices on equity transactions in Europe. Prior to joining Madison in 2008, Mr. Lukesch was a Portfolio Analyst at Lincoln Property Company where he assisted in the underwriting analysis, due diligence and structuring of over $350 million of structured equity investments and acquisitions of office and retail assets throughout the United States. Mr. Lukesch is a fluent German speaker and received a BS degree in economics from the Wharton School at the University of Pennsylvania.

Lukesch
Matthias Cordier

Matthias Cordier

Director

Mr. Cordier serves as a Director with primary responsibility for the underwriting and execution of Madison’s equity transactions including all aspects of financial analysis, property due diligence and transaction structuring with a focus on Germany and Western Europe. Mr. Cordier works closely with both the New York and London offices on equity transactions in Europe. Prior to joining Madison in 2011, Mr. Cordier spent over four years with the European Commercial Real Estate Group of Deutsche Bank, where he worked on the underwriting, due diligence, structuring and closing of financings for commercial real estate assets in Germany and Western Europe. He was also part of the team responsible for the structuring, sourcing and due diligence of a German closed-end retail fund including the analysis of the overall closed-end fund market. Mr. Cordier is a German native speaker and received a BA from CSU in Milwaukee with a major in International Business and a BA degree in European Business from the University of Applied Sciences Worms (Germany).

Kim Adamek

Director

Ms. Adamek serves as Portfolio Manager, with responsibility for the asset management of Madison’s domestic and international investment portfolio. Ms. Adamek participates in all aspects of the asset and portfolio management process, including oversight of Madison’s investment positions, monitoring financial performance, maintaining relationships with Madison’s counterparties, and providing strategic recommendations to enhance investment returns. Prior to joining Madison in 2014, Ms. Adamek spent seven years with CBRE Global Investors. While there, Ms. Adamek served as an Acquisition Director in the Managed Accounts Group, responsible for sourcing, underwriting and closing over $1 billion in commercial assets. Prior to CBRE Global Investors, Ms. Adamek spent three years with Unico Properties as an Analyst and Associate, where she worked on the Investments team underwriting real estate transactions. Ms. Adamek graduated with an MBA from New York University and a BS in Finance from Northern Arizona University.

Kim Adamek
Diana Shieh

Diana Shieh

Director

Ms. Shieh serves as Portfolio Manager, with responsibility for the asset management of Madison’s domestic and international investment portfolio. Ms. Shieh participates in all aspects of the asset and portfolio management process, including oversight of Madison’s investment positions, monitoring financial performance, maintaining relationships with Madison’s counterparties, and providing strategic recommendations to enhance investment returns. Prior to joining Madison in 2014, Ms. Shieh spent two years with Rockwood Capital, managing Rockwood’s New York commercial office and residential portfolio totaling over $2 billion in assets. Prior to Rockwood, Ms. Shieh spent six years with Shorenstein Properties managing Shorenstein’s East Coast portfolio, totaling over 5 million square feet of commercial office real estate. Ms. Shieh graduated Magna Cum Laude with a BA in English and a BS in Economics from Rutgers University and holds a Certificate in Real Estate Finance and Investment from New York University’s School of Continuing Professional Studies.

Carlos Horcasitas

Portfolio Manager

Mr. Horcasitas serves as a Portfolio Manager, with responsibility for the asset management of Madison’s domestic and international investment portfolio. Mr. Horcasitas participates in all aspects of the asset and portfolio management process, including oversight of Madison’s investment positions, monitoring financial performance, maintaining relationships with Madison’s counterparties, and providing strategic recommendations to enhance investment returns. Prior to joining Madison in 2014, Mr. Horcasitas was an Associate at Tishman Speyer where he assisted in the management of several core and value-add office funds. Prior to this role, Mr. Horcasitas held various roles in operations and asset management. Prior to Tishman Speyer, Mr. Horcasitas spent four years at MAPP, a Washington, DC based retail developer, analyzing and managing the ongoing performance of a portfolio of single tenant and multi-tenant retail real estate. Mr. Horcasitas graduated with an MS from the Schack Institute of Real Estate at New York University and a BA in Economics from the University of Colorado.

Learn More
Carlos Horcasitas
Mowens

Michael Owens

Director

Mr. Owens serves as Director, with primary responsibility for the Accounting and Operations of the public markets investing at Madison. His responsibilities include infrastructure development, fund accounting, operational due diligence, vendor management and financial reporting. He has 16 years of experience in the hedge fund industry. Prior to joining Madison in 2016, he served as Chief Financial Officer and Chief Accounting Officer at 40 North Management, where he ran their finance and accounting team for 5 years. Prior to that, he spent nine years at JD Capital Management, where he served as Director of Operations. In addition, he started his career at PricewaterhouseCoopers LLP, where he was in the Investment Management Services group, auditing hedge fund and mutual funds. Mr. Owens attended Hampton University, where he earned a BS in Accounting and is a Certified Public Accountant.

Adam Menson

Vice President

Mr. Menson is a Vice President and manages Madison’s corporate finance and accounting functions. Prior to joining Madison in 2012, he spent over eight years with Caxton Associates, a global macro hedge fund, focusing on finance and accounting for its management company, fund of funds, private equity vehicles, and venture capital initiatives. Mr. Menson began his career as an auditor at PricewaterhouseCoopers, primarily servicing technology clients. Mr. Menson is a graduate of The College of New Jersey, with a BS in Accounting and is a Certified Public Accountant.

Adam
Jasmin

Jasmin Chitrakar

Vice President

Ms. Chitrakar serves as Vice President with oversight of Madison’s Fund Finance and Accounting team. Her primary responsibilities include all aspects of Funds management including financial reporting, tax reporting, REIT due diligence and compliance, and oversight of administration teams. Ms. Chitrakar has over 10 years of finance and accounting experience. Prior to joining Madison in 2010, Ms. Chitrakar served as a Supervising Senior at Ernst & Young in the New York Real Estate practice. She managed audit engagements of private equity real estate companies as well as retail clients. Ms. Chitrakar earned Master of Business Administration in Accountancy from Baruch College, City University of New York and is a Certified Public Accountant.

Kathleen Hurley

IT Director

Ms. Hurley serves as IT Director with responsibility for Madison’s global IT infrastructure. She ensures that all technology services are delivered, technology related compliance and business continuity are managed, provides training and assists with process improvement. Kathleen has over 18 years of Information Technology management experience. Prior to joining Madison in 2015, Ms. Hurley served as the Regional Chief Information Officer for CBRE in the Mid-South markets. She was responsible for leading the team delivering support services, ensuring strategic goals were met and worked closely with Asset Services teams. She was particularly involved with commercial real estate accounting and process improvement, facilitating KANBAN and ITIL in the organization. Kathleen earned her Masters of Business Administration in Information Technology from the University of Wales, and holds various IT certifications.

Kate Hurley
© 2017 Madison International Realty. All rights reserved. Terms of Use