Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.
Administration December 7, 2004
PREI, Madison Capital Form Join Real Estate Venture
July 12, 2004 (PLANSPONSOR.com) - Prudential Real
Estate Investors (PREI) and Madison Capital Management, LLC
are teaming up to sponsor and manage a series of hedge and/or
private equity funds focusing on fractionalized real
estate-related investment interests.
Reported by Eric Hazard
PREI’s Global Real Estate Private Equity Group, on behalf of Prudential Investment Management and New York-based Madison are managing the venture, Madison/Prudential Realty Partners, LLC. The venture will also work with PREI’s Munich-based operation, TMW Immobilien GmbH, through its network of offices in Europe, and with Madison’s European business development office in Paris, according to a news release.
The venture’s board comprises two senior executives from PREI – Robert Falzon and John Gregorits – along with Bryan Gordon, chairman and managing director of Madison.
The joint venture partners will initially provide $31 million to fund the program.