ronald-dickerman

RONALD M. DICKERMAN

President

+1 (212) 687-1899

Mr. Dickerman is the President and Founder of Madison International Realty with primary responsibility for investment strategy, capital formation and risk management. Since founding Madison in 2002, Mr. Dickerman has raised more than $4.4 billion in capital commitments for investment in commercial real estate. Mr. Dickerman has significant experience providing joint venture and preferred equity to commercial real estate owners and investors within all major asset classes who are looking to recapitalize investments, restructure balance sheets, provide existing partners with an exit strategy or redeploy capital for new investments.

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 & gas, as well as other specialty assets. Prior to founding Madison in 2002, Mr. Dickerman was President and Founder of First Equity Realty, LLC, a real estate investment firm specializing in the acquisition of under-performing real estate assets from financial institutions.

During the period from 1987 to 1991, Mr. Dickerman was 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 serves on the board of directors of the Association of Foreign Investors in Real Estate (AFIRE) and is an active member of INREV, the Zell Lurie Institute, and a frequent speaker on the topic of secondary investments and liquidity at real estate conferences throughout the world. Mr. Dickerman earned a MBA degree from Columbia University’s Graduate School of Business and a BA degree from Tufts University.

Img Carey Flaherty

CAREY J. FLAHERTY

CO-CHIEF INVESTMENT OFFICER

+1 (212) 688-1016

Mr. Flaherty serves as Co-Chief Investment Officer 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 Jacobsons

DEREK O. JACOBSON

Co-Chief Investment Officer

+1 (212) 688-2926

Mr. Jacobson serves as Co-Chief Investment Officer, 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.

Michael

MICHAEL SIEFERT

Managing Director

+49 69 2566 971 16

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).

Img Michael Chen

MICHAEL CHEN

MANAGING DIRECTOR

+1 (646) 695-2817

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.

Img Yehuda Hecht

YEHUDA HECHT

Chief Financial Officer

+1 (212) 688-3518

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.

Img Nausheen Hussain

NAUSHEEN HUSSAIN

Director of Human Resources

+1 (212) 688-2717

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.

Mr. Michel

GREGORY MICHEL

Chief Compliance Officer

+1 (212) 688-0787

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.

Our Professionals

Lukesch

ALEX LUKESCH

DIRECTOR

+44 (0) 203 008 7992

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.

img-matthias-cordier-large

MATTHIAS CORDIER

DIRECTOR

+49 69 2566 971 13

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).

Kyle Torpey

Kyle Torpey

Director

+1 (646) 695-2815

Mr. Torpey serves as a Director with primary responsibility for the oversight of Madison’s US investment activities including sourcing, underwriting and execution of transactions for Madison’s managed funds. Mr. Torpey works on all aspects of financial analysis, property due diligence and transaction structuring in the US markets. Prior to joining Madison in 2017, Mr. Torpey was a Vice President in the Goldman Sachs real estate investment banking group with responsibility for real estate and gaming mergers and acquisitions and capital markets transactions. Previously he was an associate in Lazard’s real estate investment banking group and prior to business school was a Captain in the US Army. Mr. Torpey received a BA degree in politics from Princeton University and an MBA from Columbia Business School.

Cindy True

Cindy True

Vice President

+1 (646) 695-2830

Ms. True serves as Vice President on the investment team and has over seven years of experience in the Commercial Real Estate industry. Ms. True’s primary responsibilities at Madison include sourcing, underwriting, and executing U.S. real estate transactions with a focus on East Coast markets. Prior to joining Madison in 2016, Ms. True worked as an Associate Director at HFF’s New York office as a capital markets broker and analyst where she executed over $3 billion of Commercial Real Estate sales, debt, and equity transactions. She previously held roles at JPMorgan in Equity Research covering publicly traded office and multifamily REITs and in Investor Relations for the firm. Ms. True received a BS degree in Civil Engineering from Columbia University and is also a CFA® charterholder.

Omer Ben-Zur

Omer Ben-Zur

Vice President

+1 (929) 333-2931

Mr. Ben-Zur serves as Vice President on the investment team with primary responsibility for the sourcing, underwriting and execution of Madison’s equity transactions with a focus on the US west coast. Prior to joining Madison in 2016, Mr. Ben-Zur was an Associate at Apollo Global Management where he was involved in underwriting, due diligence and execution of hotel acquisitions throughout the US. Previously, Mr. Ben-Zur was an analyst at Walton Street Capital. Mr. Ben-Zur is a fluent Hebrew speaker and received a BS degree from the School of Hotel Administration at Cornell University.

Andrew Schaffler

ANDREW SCHAFFLER

Director

+1 (212) 688-1965

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.

Kim Adamek

KIM ADAMEK

DIRECTOR

+1 (646) 695-2801

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.

Diana Shieh

DIANA SHIEH

DIRECTOR

+1 (646) 695-2811

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

CARLOS HORCASITAS

Portfolio Manager

+1 (646) 695-2832

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.

Evan Walke

Evan Walke

Portfolio Manager

+1 (646) 776-7498

Mr. Walke serves as Portfolio Manager, with responsibility for the asset management of Madison’s NYC Core Retail Portfolio. Mr. Walke participates in all aspects of the asset and portfolio management process, including oversight of Madison’s investment positions, monitoring financial performance, overseeing third party management functions, maintaining relationships with Madison’s counterparties, and providing strategic recommendations to enhance investment returns. Prior to joining Madison in 2017, Mr. Walke was the General Manager for Westfield World Trade Center and Fulton Center, where he led the management, operations and facilities teams for the properties. He was a key part of the development team in the three years leading up to the historic grand opening of Westfield WTC in August 2016, and subsequently led the teams for a year after opening in the initial stages of stabilizing the property before departing to join Madison. Prior to his time at Westfield, Mr. Walke was a Property Manager for Tishman Speyer for iconic properties such as Rockefeller Center, The MetLife Building at 200 Park Avenue, and Peter Cooper Village Stuyvestant Town. He obtained his MBA in Real Estate and Finance from the NYU Stern School of Business and his BA in Economics from Manhattanville College.

Michael Owens

MICHAEL OWENS

DIRECTOR

+1 (929) 333-2924

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

ADAM MENSON

VICE PRESIDENT

+1 (646) 695-2802

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.

Jasmin

JASMIN CHITRAKAR

VICE PRESIDENT

+1 (646) 695-2821

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.

Benjamin Ho

Ben Ho

Vice President

+1 (212) 688-1068

Mr. Ho is a Vice President and Head of Tax for Madison.  Prior to joining Madison in 2017, he spent eight years with KPMG in the New York Real Estate Practice and four years with Sageworks, Inc. as a financial software engineer.  Mr. Ho attended the University of North Carolina at Chapel Hill where he earned a Masters in Accounting, and NC State University where he earned a BS in Computer Science and BS in Economics.  In addition to his role at Madison, Mr. Ho is also an Adjunct Professor for the Shack Institute of Real Estate at NYU and is a Certified Public Accountant.

Kate Hurley

KATHLEEN HURLEY

IT DIRECTOR

+1 (929) 333-2993

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.