Madison Gets 50 Percent Interest in Retail Center
- Apr 22, 2011
April 22, 2011
By Allison Landa, News Editor
Real estate private equity firm Madison International Realty has picked up a 50 percent equity interest in Bridgeport Marketplace. The 126,769-square-foot mixed-use grocery-anchored retail center is located in Valencia, Calif., near Los Angeles.
The center, which was developed in 2008, is 94.5 percent leased, with a retail component of 97,786 square feet and a 28,953-square-foot medical office component. The retail component is anchored by Valley Produce Market, Walgreens and California Pizza Kitchen.
It is located at the intersection of Newhall Ranch Road and McBean Parkway.
According to Madison founder & president Ronald Dickerman, the marketplace fits in with corporate strategy of acquiring partial ownership interests in Class A assets from existing investors who seek an early exit.