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.
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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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