Madison International Realty Acquires European Logistics Stake

NEW YORK CITY – Madison International Realty, a real estate private equity firm, has acquired a 46.5 percent equity stake in the European Logistics and Investment platform (ELI). The stake was from South-African based real estate investment trust Redefine Properties Limited’s €500 million Polish real estate portfolio.

The investment platform is comprised of 14 assets in total, adding up to 560,000 square meters by European measurements. And thereof, 80,000 square meters is close to 90 percent pre-leased. There is also an additional development pipeline of 270,000 square meters slated to begin once pre-leases are secured. Minority co-investor of the platform Griffin Real Estate, which has a 7% stake in the portfolio, co-manages the platform.

As part of the deal, Madison will provide a €150 million commitment to the European Logistics and Investment platform, of which €83.7 million will be used to acquire a 46.5% interest in the existing assets and developments in progress while leaving a commitment of €66.3 million to expand the portfolio over the next few years. Redefine will match Madison’s commitment to growth capital.