Madison provides equity capital to owners seeking to recapitalize the balance sheets of their existing properties and portfolios. Madison’s equity enables owners to:
- Amortize existing debt positions
- Replace subordinated debt with equity
- Generate cash for leasing costs, capital expenditures, or renovations
Madison is a financial investor, not an owner or operator, and seeks to partner with quality sponsors with a proven track record of success. By partnering with Madison, owners gain access to additional equity capital to continue the real estate value creation process while also maintaining ownership and management control.
TRANSACTION SUMMARY: 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 EGER shopping center as well as a 50% interest in Steen & Strøm, Norway’s most established department store. This transaction not only provided the sponsor with the liquidity to strengthen their balance sheet, but also provided renewed strength to continue developing its commitment to luxury shops in central Oslo.
TRANSACTION SUMMARY: In December 2016, Madison acquired a 50% ownership interest in a portfolio of two prime office assets; King Edward’s Court and St. Martin’s Court. Strategically located in Paternoster Square, the portfolio enjoys views of St. Paul’s Cathedral as well as a multitude of transportation options making the location one of the most coveted in all of London. King Edward’s Court, a 245,910 sqm Class A office building, is 100% occupied and anchored by the London Stock Exchange. Similarly, St. Martin’s Court, a 126,764 sqm Class A office building, is 100% occupied and anchored by CBRE. The transaction represented an opportunity to partner with a best-in-class sponsor at an attractive basis, generating a strong dividend yield through long-term leases with credit tenants.