Madison Marquette, a Washington, D.C.-based investor, developer and operator of retail and retail mixed-use real estate, had a lot to talk about at the Spring Convention.
Just prior to the convention's kickoff, the firm had not one but two big announcements to make.
First, was the announcement of a strategic alliance with Capital Growth Properties, Inc. through which the firms will jointly seekopportunities while managing both companies' existing 31 million square foot portfolio of national retail real estate.
Madison Marquette will contribute its existing Minneapolis-based operating business and professional team to the new joint venture and will obtain an ownership interest in Capital Growth Properties.
Second, the firm closed on the Madison Marquette Retail Enhancement Fund — a $487 million private equity vehicle that will invest in retail real estate properties. Madison Marquette will transform these assets into mixed-use destinations. The Fund is backed bysuch as ABP, ColoradoPERS, OhioSERS, PennsylvaniaSERS and Wells Fargo.