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.
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