A LEADING LIQUIDITY PROVIDER TO REAL ESTATE INVESTORS WORLDWIDE COMPANY PROFILE

Transcription

1 A LEADING LIQUIDITY PROVIDER TO REAL ESTATE INVESTORS WORLDWIDE COMPANY PROFILE

2 NYC Core Retail Portfolio Atlantic Center Adjacent to the Barclays Center Arena Brooklyn, NY WHO WE ARE Madison International Realty is a global private equity firm providing liquidity to real estate owners and investors of core real estate properties and portfolios. The firm was founded in 2002 by Ronald Dickerman with the idea of building a business that focused on providing liquidity to real estate owners and investors who otherwise had few options for exiting their existing real estate positions. Since inception, Madison has raised over $1.8 billion in capital commitments from more than 150 institutional investors around the world and has invested in more than 45 million square feet of commercial real estate. Today, with offices in New York City, London and Frankfurt, Madison has grown to be a globally recognized leader in providing equity capital in a diverse range of real estate transactions involving Class A properties and portfolios. $1.8 billion Capital commitments from global institutional investors 150 Institutional investors with investments in Madison funds 40 Number of professionals dedicated to sourcing, acquisition and asset management for Madison Offices in: NEW YORK LONDON FRANKFURT CAPABILITY ASSET TYPES MADISON S INVESTMENT SIZE GEOGRAPHIC LOCATIONS OFFICE Healthcare RETAIL MIXED-USE RESIDENTIAL $10 Million- + Million $200 Madison invests in properties and portfolios located in: WESTERN EUROPE U.K. U.S. TRACK RECORD Total Asset Diversification Across All Funds Healthcare 3% Retail 21% Other 2% Residential 8% $23 billion Value of all properties in which Madison has invested 176 Total number of properties in which Madison has invested 45 million Total square footage in which Madison has invested Office 66%

3 SENIOR MANAGEMENT TEAM RONALD DICKERMAN CAREY FLAHERTY DEREK JACOBSON MICHAEL SIEFERT President Managing Director Managing Director Managing Director BRADLEY CARROLL TODD SILVERMAN YEHUDA HECHT Managing Director Managing Director Chief Financial Officer Mr. Dickerman primarily focuses on strategic direction, key relationship management, capital formation and risk management for the firm. Mr. Flaherty oversees Madison s portfolio and asset management activity across all funds. Mr. Jacobson oversees Madison s European investment underwriting and execution across all funds. Mr. Siefert focuses on originating transactions from the European market. Mr. Carroll focuses on originating transactions from the U.S. market. Mr. Silverman is responsible for developing and executing Madison s fundraising strategy and serves as liaison with the global investor community. Mr. Hecht oversees all of Madison s finance and accounting functions.

4 Devonshire House London, UK

5 PARTNER REPLACEMENTS Madison purchases interests in indirect or illiquid ownership structures such as: Limited partnerships Limited liability companies Open and closed ended funds Private REITs Other joint venture and co-investment interests Madison purchases these interests from partners seeking liquidity or an early exit before the natural sale of the underlying real estate. Investors may seek early exits from their investments due to changes in their investment objectives and allocation strategy, delayed asset sales to pursue higher return opportunities. Although partial interests are illiquid and difficult to sell, Madison provides investors with an option to divest their interests despite the lack of a formalized secondary market. Because Madison acts as a passive financial investor, we can replace current partners with fresh equity capital while allowing remaining owners and sponsors to maintain full management control of their properties and portfolios. Piedmont Realty Trust Portfolio Aon Center Chicago, IL PIEDMONT REALTY TRUST PORTFOLIO Location: Various U.S. locations Size: 73 assets; 21,053,757 square feet Capital Invested: $4.6 million Ownership Interest Acquired: 0.3% 655 Madison Avenue 375 Park Avenue Trianon Office Tower Frankfurt, Germany STATOIL HEADQUARTERS Location: Oslo, Norway Size: 721,935 square feet Statoil Headquarters Oslo, Norway Capital Invested: $68 million Ownership Interest Acquired: 33.4% AUSTIN CORE OFFICE PORTFOLIO 655 MADISON AVENUE 375 PARK AVENUE Location: Size: Three assets; 845,196 square feet Capital Invested: $47.4 million (total portfolio investment) Ownership Interest Acquired: 21.6% Location: Size: 769,345 square feet Capital Invested: $5.6 million Ownership Interest Acquired: 6.66% TRIANON OFFICE TOWER Location: Frankfurt, Germany Size: 734,798 square feet Capital Invested: $109 million (includes co-investment capital) Ownership Interest Acquired: 50% Austin Core Office Portfolio Frost Bank and One Congress Plaza Austin, TX Location: Various U.S. locations Size: 8 assets; 2,939,861 square feet Capital Invested: $36.6 million Ownership Interest Acquired: 16.7%

6 EQUITY MONETIZATION Madison provides capital to owners seeking to monetize embedded equity value in their assets and portfolios in order to: NYC CORE RETAIL PORTFOLIO Realize embedded gains without selling assets Redeploy equity capital into future opportunities Diversify ownership in capital intensive assets and portfolios NYC Core Retail Portfolio Atlantic Center and Atlantic Terminal Brooklyn, NY Type: Class A Retail Portfolio Location: NYC Metropolitan Area Size: 15 properties (2,649,909 square feet) Through direct joint ventures with Madison, owners can monetize embedded value in their assets as an alternative to traditional sales or recapitalizations where existing debt structures may restrict liquidity options. By partnering with Madison, owners can generate liquidity while maintaining operating and management control over their properties and portfolios. Capital Invested: $180 million Ownership Interest Acquired: 49.0% Devonshire House London, U.K. DEVONSHIRE HOUSE Location: London, U.K. Size: 186,472 square feet Capital Invested: $45.0 million Ownership Interest Acquired: 17.5% NYC Core Retail Portfolio 42nd Street Retail & Entertainment Complex The Enclave Gainesville, FL STUDENT HOUSING PORTFOLIO Type: Class A Student Housing Location: Gainesville and Tallahassee, FL Size: Two properties (899 units) Capital Invested: $31.2 million (total portfolio investment) Ownership Interest Acquired: 80.0%

7 RECAPITALIZATIONS Madison provides equity capital to owners seeking to recapitalize the balance sheets of their existing properties and portfolios. Madison's equity enables owners to: Amortize existing debt positions Replace subordinated debt with equity Generate cash for leasing costs, capital expenditures, or renovations Olof-Palme Strasse Frankfurt, Germany Medicent Salzburg Salzburg, Austria RUBICON EUROPE PORTFOLIO Location: Germany, Netherlands, Belgium, Austria Size: 2,081,717 square feet Madison is a financial investor, not an owner or operator, and seeks to partner with quality sponsors with a proven track record of success. By partnering with Madison, owners gain access to additional equity capital to continue the real estate value creation process while also maintaining ownership and management control. Olof-Palme Strasse Frankfurt, Germany Capital Invested: $81.1 million Ownership Interest Acquired: 75.7% Courvoisier Center Miami, FL COURVOISIER CENTER and Retail Location: Miami, FL Size: 330,667 square feet Capital Invested: $21.7 million (includes co-investment capital) Ownership Interest Acquired: 49.0% Campus Carree Frankfurt, Germany Nike Headquarters Hilversum, Netherlands

8 SPECIAL SITUATIONS Madison realizes that no two real estate transactions are alike and the capital needs of investors, owners and their partners vary from transaction to transaction. Madison specializes in custom equity solutions for a wide range of real estate financings. Madison has provided capital for the following special situations: Private investments in public entities Loan acquisitions General partner acquisitions Converting debt to equity Monetizing residual interests Placing unsubscribed equity Tishman Speyer Office Fund One Bush Street San Francisco, CA TISHMAN SPEYER OFFICE FUND Location: Various U.S. Locations Size: 16 Properties (8,332,559 square feet) Capital Invested: $15.3 million Ownership Interest Acquired: 26.0% Thomas Property Group Portfolio City National Plaza Los Angeles, CA Thomas Property Group Portfolio City West Place Houston, TX THOMAS PROPERTY GROUP PORTFOLIO Location: Various U.S. locations Size: 20 assets; 10,501,887 square feet Capital Invested: $54.5 million Ownership Interest Acquired: 17.8% Songbird Estates Portfolio One Canada Square London, UK SONGBIRD ESTATES PORTFOLIO and Retail Location: London Size: 20 assets; 6,981,236 square feet Capital Invested: $39.1 million Ownership Interest Acquired: 1.7% Tishman Speyer Office Fund 300 Park Avenue Tishman Speyer Office Fund City Spire Tower

9 655 Madison Avenue

10 PROPERTY TYPES OFFICE 53 & 75 State Street Boston, MA Lloyd s of London Building London, UK 520 Madison Avenue 31 West 52nd Street 375 Park Avenue Trianon Office Tower Frankfurt, Germany One California Plaza Los Angeles, CA RETAIL RESIDENTIAL Spring Street 42nd Street Retail & Entertainment Complex 384 Post Street (Saks Fifth Avenue, Union Square) San Francisco, CA Eastbridge Landing Madison at River Sound Atlanta, GA

11 Trianon Office Tower Frankfurt, Germany PRESS EXPOSURE

12 Songbird Estates Portfolio Canary Wharf London, UK INDUSTRY PARTICIPATION

13 Statoil Headquarters Oslo, Norway NEW YORK 410 Park Avenue 10th Floor New York, New York Telephone: (212) Facsimile: (212) FRANKFURT Mainzer Landstrasse Frankfurt / Main Germany Telephone: +49 (0) Facsimile: +49 (0) frankfurt@madisonint.com LONDON 42 Brook Street London W1K 5DB United Kingdom Telephone: +44 (0)