This is Madison Marquette's first equity fund, and at least asmeasured by the participants, was met by high demand from themarket. Investors include ABP, ColoradoPERS, OhioSERS,PennsylvaniaSERS and Wells Fargo.
CFO Paul Andrews tells GlobeSt.com that demand in part is due toMadison Marquette's rather unique position in the retail investmentspace. "We come from the development/operations side. Most of theother private equity funds outsource their operations and leasingactivities. We, though, will be fully integrated." He says thatmodel was a differentiator as it spoke with investors.
Madison Marquette has already closed on three properties for thefund and has three others in the pipeline, Andrews says. These sixtransactions total $120 million in equity – or one-quarter of thefund's equity investment. The company couldn't discuss the fundpublicly until now because of securities regulations, Andrewssays.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
