The company recently disclosed it is still talking to the potential buyer.
The Marriott Residence Inn II partnership described the Madison offer as an "unsolicited tender,'' in its annual report filed March 28.
Once the $340,000 worth of stock is paid for, Madison will own about 10.45% of the partnership, which consists of some 23 Marriott Residence Inn properties in 16 states with a total of 2,487 suites. Madison Liquidity Investors 117, LLC is a joint venture between Madison Capital Management LLC, Haberhill LLC and other affiliates of Madison.
Madison is a privately held investment management firm, and Haberhill is a privately held real estate investment advisory firm.
Madison had offered $200 per unit to buy up to 8,341 units of the Marriott Residence Inn II Limited Partnership. Madison had earlier offered $300 per unit, but amended theoffer to $200 per unit. The offer expired last month.
Payment for units tendered is expected to be made after June 15.
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