NEW YORK CITY – Madison International Realty, a real estateprivate equity firm, has acquired a 46.5 percent equity stake inthe European Logistics and Investment platform (ELI). The stake wasfrom South-African based real estate investment trust RedefineProperties 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. Andthereof, 80,000 square meters is close to 90 percent pre-leased.There is also an additional development pipeline of 270,000 squaremeters slated to begin once pre-leases are secured. Minorityco-investor of the platform Griffin Real Estate, which has a 7%stake in the portfolio, co-manages the platform.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
