Why Madison Is Boldly Investing in NYC Retail

Madison founder and president, Ronald Dickerman, explains a new retail narrative.

NEW YORK CITY—Madison International Realty bought out its partner, acquiring the 51% interest of the Cleveland, Ohio-headquartered real estate company, Forest City Realty Trust, in a 2.1-million-square-foot retail portfolio. With the transaction scheduled to close at the end of 2017, Madison will take full ownership of the portfolio, comprising 13 retail centers. The gross asset value of the entire portfolio is approximately $1.3 billion, according to Madison founder and president, Ronald Dickerman.

In a GlobeSt.com interview, Dickerman characterized the typical, retail narrative now being told, as the baby getting thrown out with the bathwater. “Not all retail is bad,” he says. “We have confidence in our decisions. We think we are right, and if we are, it will give us the chance to rewrite the retail narrative.”