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Madison Marquette Names New Managing Principal

Madison Marquette taps one of its top corporate leaders to be its managing principal as its current chief operating officer transitions to a new role

 
Washington, DC, Monday, September 9, 2024 – Madison Marquette, a leading private real estate provider, investment manager and developer, today announced that William (Bill) Sudow has been named Managing Principal to lead Madison’s executive team as it pursues investment management and development opportunities.

Sudow’s new position begins immediately. He has been serving as Madison’s Chief Compliance Officer and Counsel. Sudow has a long and close relationship with Madison Marquette and its Executive Chairman Amer Hammour.

“Bill is an outstanding executive with profound knowledge of our company, strategic vision and proven ability to execute our strategy across all disciplines. The Board and I believe that he, working with our group of Executive Principals, is the right person to guide the Madison Marquette team through its next chapter,” said Hammour.

Through the law firm Sudow founded over 12 years ago, he has provided transaction and corporate counseling to Madison and its affiliates. He has served as a leader in various local civic organizations, including as a current member of the Federal City Council’s Leadership Committee and as Co-Chair of its Transportation Committee. Sudow is also a Member of the Board of Directors of the Metropolitan Washington Airports Authority and served as its Chair for 2½ years.

“I am honored to serve as Madison Marquette’s Managing Principal. I look forward to continuing to work closely with Amer and the members of the Madison team as we continue to move forward building Madison Marquette,” said Sudow.

Effective September 9, 2024, Daniel McCahan, Madison’s Chief Operating Officer, will become president of Peterson Companies, one of the largest privately-owned real estate companies in the Washington, DC region. McCahan will continue to assist Madison in its role as co-General Partner of the Wharf on a transitional basis.

Hammour added, “I want to thank Dan for his tremendous contributions to Madison Marquette over the last thirteen years. His work has helped to solidify the foundation from which we will continue to build for the future. I am very happy for Dan to have such an opportunity in an outstanding Real Estate organization, which we all respect and admire. I also congratulate Peterson on its excellent choice for leadership and look forward to discussing potential collaboration and partnership with them.”

 

About Madison Marquette
Madison Marquette is a boutique real estate investment and investment management firm with a national platform that transforms assets and delivers institutional quality results. We attract clients by reputation and maintain them through performance in U.S. markets coast to coast. Our proven track record over three decades and over $6 billion in investments has earned us a reputation as a leading operator and investor in multiple property types including mixed-use retail, office, multifamily, senior housing, and medical office. Learn more at www.madisonmarquette.com.

 

MADISON MARQUETTE MEDIA CONTACT:

Lisa Kolakowski - September 9, 2024 - Leadership - - No Comments
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Madison Marquette’s Vince Costantini Transitions to Strategic Advisory Role

Washington, DC, Thursday, December 7, 2023 – Madison Marquette, a leading private real estate provider, investment manager and developer, today announced that Vince Costantini has transitioned from Chief Executive Officer to a strategic advisory role.

“We thank Vince for his service as CEO and we’re excited that he will remain with Madison Marquette to apply his exceptional expertise to our investment strategies,” said Madison Marquette Chairman Amer Hammour. “For the past four years he has been an effective leader directing the organization through strategic changes providing benefit and focus for Madison and our clients, including capitalizing on emerging market trends and making prudent long-term investments on transformative developments.”

In 2019, Costantini, now 67 and a resident of New England, was named Chief Executive Officer and Chief Investment Officer following the merger of Madison Marquette and The Roseview Group, a Boston-based boutique institutional real estate investment and advisory company he founded. With his commitment to serving as CEO ending this year with Washington, DC.-based Madison Marquette, Costantini decided to transition to the investment role for professional and personal reasons.

“Seeking a competitive advantage for our company and clients is part of our DNA and I’m thrilled to continue focusing on my passion involving the investment discipline,” said Costantini. “At the same time, this transition also will allow me to spend more time with my family rather than splitting time between Boston and Washington, D.C.”

As CEO, Costantini launched innovative programs including Madison Highland Live/Work Lofts. In 2022, he shepherded an agreement in which Avison Young acquired Madison Marquette’s office and industrial property management, agency leasing and project management service lines involving 20 million square feet and 235 employees. That transaction allowed Madison to focus on enhancing and growing its core investment management programs, mixed use developments and advisory services.

“We made the strategic choice to move a portion of our services to Avison Young to better serve our office clients, and look forward to a new partnership with the firm with respect to their industry-leading data analytics platform, AVANT by Avison Young, “said Costantini about the acquisition.

 

About Madison Marquette
Madison Marquette is a boutique real estate investment and service firm with a national platform that transforms assets and delivers institutional quality results. We attract clients by reputation and maintain them through performance in U.S. markets coast to coast. Our proven track record over three decades and over $6 billion in investments has earned us a reputation as a leading operator and investor in multiple property types including mixed-use retail, office, multifamily, senior housing, and medical office. Learn more at www.MadisonMarquette.com. Learn more at www.madisonmarquette.com.

 

MADISON MARQUETTE MEDIA CONTACT:

Lisa Kolakowski - December 11, 2023 - Leadership - - No Comments
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Madison Marquette's State of Retail 2023

Madison Marquette's State of Retail Q3 2023 presents our top 5 Retail Predictions for 2023 and an in-depth analysis of retail's transformation, shifting consumer behaviors and category trends.

Top 5 Retail Predictions for 2023

  1. Financial positions create divergent consumer spending behaviors.
  2. Physical stores serve as digital billboards in the hybridization of retail.
  3. Retailers focus on the path to profitability to secure stability and future growth.
  4. Digital transformation shifts focus from customer-centric to operations and efficiency.
  5. Retail cycles from apocalypse to favored sector among investors.

[Click here to view presentation]


Jeremiah Peapealalo - August 11, 2023 - Feature, Trend Report - , - No Comments
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Madison Marquette Properties Honored as 2023 ICSC MAXI Finalists

Retail Real Estate Firm Recognized for Marketing Expertise and Professional Excellence

Washington, DC — March 31, 2023 — Madison Marquette, a leading private full-service real estate provider, investment manager, developer and operator, today announced that three of its properties have been named finalists for one of the coveted and highly competitive MAXI awards from ICSC. Winners are expected to be announced during the prestigious Global Awards Ceremony held during the ICSC Las Vegas conference in May. The MAXI Awards recognize innovative events, programs and technologies that add value to the retail real estate industry. Award categories are designed to recognize the evolution of the industry while rewarding creativity and innovation.

“We are both excited and honored to announce that three properties marketed by Madison Marquette have been named finalists in this year’s ICSC MAXI awards competition,” says Heather Almond, Executive Vice President, Retail Services, Madison Marquette. “These awards shine a light on the unique method Madison Marquette employs when analyzing industry data and trends and turning that information into actionable, results-oriented programs when promoting its tenants and marketing its shopping centers. This year’s MAXI awards are incredibly competitive with entrants representing shopping centers from around the world, and finalists like The Culver Steps, Bell Tower and CityPlace Doral represent the very best in retail real estate marketing expertise.”

2023 Finalists

Madison Marquette’s The Culver Steps, Bell Tower, and CityPlace Doral and have each been named a finalist in this year’s MAXI awards competition.

• The Culver Steps: “Integrated Marketing Brands The Culver Steps”: Finalist (Integrated Category) — As a public/private mixed-use property, The Culver Steps had focused primarily on B2B and leasing since its 2019 opening. When traffic and visitations stalled, the center’s owner wanted to host events to attract consumer attention. Maximizing its in-depth market research to create a year-long series of inspired events that would resonate with its target market, the center increased property visits by 60% YOY, increased traffic on Tuesdays, Wednesdays and Thursdays by up to 84%, added $20,112 in 2022 specialty leasing revenue, and filled 12,961 square feet of vacant space. An overhaul of its social media, PR and website messages earned 27,846,887 local consumer impressions and expanded the center’s trade area by 10.4%, while careful cost management yielded a 14% program ROI.

• Bell Tower: “SWFLStrong”: Finalist (Community Category) — Located in southwest Florida, Bell Tower was directly in the path of Hurricane Ian, the deadliest storm to hit Florida since 1935. With thousands of its shoppers now homeless, mountains of soggy furniture lining the streets, bridges and roadways destroyed, and the area’s beautiful landscape buried under piles of rubble, Bell Tower created #SWFLSTRONG to provide food and other essential products and services to area residents; it also moved seven displaced businesses to the center. Using just 6% of its 2022 marketing budget, it increased event traffic up to 23% and individual merchant sales by as much as 30% YOY while creating a sense of normalcy and inspiring hope throughout the community.

• CityPlace Doral: “Cultural Experience Changes Perceptions”: Finalist (Experiential Category) — For years, CityPlace Doral’s merchandising concentrated heavily on its nightlife and clubs. Over time, this negatively impacted the perception of the center and alienated family shoppers in the center’s primarily Hispanic demographic. To combat this, Madison Marquette relied on its proprietary methods for analyzing market data to support the center’s management team and create a multi-week program featuring two culturally significant events – Kiddoween and Day of the Dead – to increase traffic and sales, but more importantly, attract Hispanic families before the holiday season. Through promotional efforts, the center generated 116,576,661 impressions in the targeted Hispanic market, and while using just 6.62% of its 2022 marketing budget, via partnerships, offset costs by $45,450.

 

About Madison Marquette

Madison Marquette is a real estate investment and service firm with a national platform that transforms assets and delivers institutional quality results. The cornerstone of our talents and abilities is identifying market opportunities, repurposing great assets and creating places that thrive as destinations. Our proven track record over three decades and over $6 billion in investments has earned us a reputation as a leading operator and investor in multiple property types including mixed-use retail, office, multifamily, senior housing, and medical office Learn more at www.madisonmarquette.com.

 

Media Contact:

Deborah Blackford, Blackford & Associates

[email protected]

714.280.8765

Lisa Kolakowski - March 31, 2023 - Feature, Recognition - , , , , - No Comments
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Madison Marquette's State of Retail 2023

Madison Marquette's State of Retail Q1 2023 presents our top 5 Retail Predictions for 2023 and an in-depth analysis of retail's transformation, shifting consumer behaviors and category trends.

Top 5 Retail Predictions for 2023

  1. Financial positions create divergent consumer spending behaviors.
  2. Physical stores serve as digital billboards in the hybridization of retail.
  3. Retailers focus on the path to profitability to secure stability and future growth.
  4. Digital transformation shifts focus from customer-centric to operations and efficiency.
  5. Retail cycles from apocalypse to favored sector among investors.

[Click here to view presentation]


Jeremiah Peapealalo - March 2, 2023 - Feature, Trend Report - , - No Comments
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Madison Marquette Report Highlights “What’s In, What’s Out” This Holiday Shopping Season

Traditional Black Friday and COVID-19 Concerns Take a Back Seat to
Alternatives to Kick off the Holiday Shopping Season and Inflation Anxiety

Washington, DC, November 16, 2022 — Madison Marquette, a leading private full-service real estate provider, investment manager, developer and operator, today released its report, 2022 Holiday Trends: What’s In, What’s Out, which reveals a radically different year of post-pandemic consumer behaviors and retailer strategies.

“The 2022 shopping landscape is a portrait of the uncertain economic climate rather than COVID-19 concerns,” said Meghann Martindale, Madison Marquette’s Head of Retail Research. “Budget conscious consumers are buying earlier and more carefully as retailers fuel interest by offering deals well in advance of an increasingly irrelevant Black Friday shopping season kickoff.”

According to the analysis, as COVID-19 concerns diminish, consumer spending is being swayed by uncertainties and anxiety about inflation, recession, and geopolitical tension. Black Friday is taking on a new meaning from a shop-to-you-drop identity to one of counter-consumerism ethics. Retailers are offering record promotions and deals to maximize sales to liquidate excess merchandise. At the same time, consumers are relishing a nostalgic return to pre-pandemic normalcy by prioritizing purchases based on value and affordability.

“Today, consumers regard shopping on Black Friday as procrastination, given the pressure they feel to secure gifts and to take advantage of early cost-savings incentives by retailers. The economic red flags are that consumers are buying more on credit and retailers have a glut of products,” said Martindale.

See the full report here.

Highlights of four perspectives in 2022 Holiday Trends: What’s In, What’s Out include:

  • WHAT’S IN – Sustainable Black Friday Alternatives
    Retailers and consumers are seeking alternative ways to kick off the holiday season on Black Friday by focusing spending on eco-friendly products and substitutes to shopping. Black Friday’s waning significance is rooted in the elongation of the promotional selling season and the growing share of digital retail sales. Its spotlight has also dimmed because of a strong cultural shift in values from Black Friday’s and Cyber Monday’s historic consumerism to a desire among shoppers to buy longer-lasting and sustainably made products. According to the Green Alliance, 80% of the items sold on Black Friday end up in landfills, incineration, or low-quality recycling.

 

  • WHAT’S OUT – Traditional Black Friday Doorbusters
    The spirit and deals of Black Friday are alive and well, but the elongated selling season and omnichannel shopping are closing the door on the high-volume door-busting sales tradition. Traditional Black Friday shopping has evolved, featuring more intentional purchases and across digital shopping channels, social commerce, and in-store events geared toward in-person brand engagement. The extended shopping season began pre-pandemic largely to compete with Amazon Prime and was exacerbated by pandemic-era supply chain issues, product shortages, and social distancing measures in 2020 and 2021. To capitalize on deals, this year consumers are price tracking earlier than ever and retailers are responding by extending price matching and return timeframes. Target, for example, is offering price guarantees from October 6th to December 24th and will accept returns in January.

 

  • WHAT’S IN – Inflation-driven Retail Sales Growth
    The highest inflation in four decades will outpace demand in retail sales growth and is causing a dramatic consumer shift towards value and affordability, and raising concerns about credit reliance. Retail sales growth for the 2022 holiday season will be the result of higher prices, not consumer demand. According to forecasts from Deloitte, Mastercard, and NRF, holiday retail sales (excluding auto and gas) are expected to grow between 3% - 7% year-over-year to more than $1.3 trillion compared to 13% growth in 2021 over 2020. According to the ICSC Holiday Intentions & Forecasts Survey, 89% of shoppers say inflation is impacting holiday purchases. The dominant concern this year to budget-conscious shoppers is rising costs of essentials like rent, vehicles, groceries, gas, energy, and medical services.

 

  • WHAT’S OUT – COVID-19 Concerns
    COVID-19 concerns and pandemic-era precautions are gone as retailers and consumers seek a return to holidays-past for the first time in two years. Customers still like the convenience of pandemic-era services like curbside pickup, but affordability is the top priority in 2022 regardless of the fulfillment method, according to Emodo. Holiday markets, caroling and photos with Santa are back in full swing to drive traffic, experience, and a celebratory outlet for budget-conscious consumers.

###

About Madison Marquette
Madison Marquette is a boutique real estate investment and service firm with a national platform that transforms assets and delivers institutional quality results. We attract clients by reputation and maintain them through performance involving 175 employees in 8 regional offices in U.S. markets coast to coast. Our proven track record over three decades and over $6 billion in investments has earned us a reputation as a leading operator and investor in multiple property types including mixed-use retail, office, multifamily, senior housing, and medical office. Learn more at www.MadisonMarquette.com

Media Contact: Peter Bartelme, 415-664-1503, [email protected]

whitney williams - November 16, 2022 - Trend Report - , - No Comments
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Lemonade, Madison Marquette’s New Surplus Corporate Property Acquisition Program, Acquires 144 Properties in the Southeast and Mid-Atlantic U.S.

 

Lemonade Buys Vacant Buildings in Bulk to Reposition Them into Community Assets

 

Washington, DC, Thursday, October 26, 2022 – Lemonade, Madison Marquette’s new surplus corporate property acquisition program, today announced that it acquired 144 properties to reposition throughout the Southeast and Mid-Atlantic United States.

“This transaction begins the process of transforming vacant properties back into useful assets for dozens of communities,” said Madison Marquette Principal Josh Anderson, who oversees the program. “Lemonade allows corporate sellers to remain focused on their core business with the confidence that we have the commitment and resources to successfully reposition their former properties.”

The transaction involved 144 properties acquired in 120 communities across eight states (Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina, Virginia, and Maryland), all purchased from a single seller. The costs and seller involved in the transactions are not being announced.

Anderson said Lemonade seeks to acquire vacant or soon-to-be-vacant corporate-owned properties in portfolios rather than one at a time, with an initial focus on retail stores. “We offer a unique package of benefits that address challenges corporations face when vacating a large number of properties,” said Anderson.

Among the benefits to sellers are: a condensed closing timeline, since properties are purchased “as-is” without building permit or zoning approval contingencies; a commitment to purchase all vacant properties without “cherry-picking;” and predictable and cost-effective closing with all-cash equity and no debt.

Madison Marquette, a real estate investment and service firm-based in Washington DC, launched Lemonade in 2021. This deal is the fifth portfolio that Lemonade has acquired during the past year.

 

About Madison Marquette

Madison Marquette is a boutique real estate investment and service firm with a national platform that transforms assets and delivers institutional quality results. We attract clients by reputation and maintain them through performance involving 175 employees in 8 regional offices in U.S. markets coast to coast. Our proven track record over three decades and over $6 billion in investments has earned us a reputation as a leading operator and investor in multiple property types including mixed-use retail, office, multifamily, senior housing, and medical office. Learn more at www.MadisonMarquette.com

 

MADISON MARQUETTE MEDIA CONTACT:

Lisa Kolakowski - October 26, 2022 - Excess Corporate Assets - No Comments
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Madison Marquette to Build Upon its History of Innovation and Accomplishments as a Real Estate Investment Manager, Operator and Retail Service Provider

 

Washington, DC-based Firm Adds Innovative Investment Programs and Cutting-Edge Technologies to Extend Three Decades of Success

 

Washington, DC, Thursday, October 6, 2022 – Madison Marquette is positioning itself for future growth by refocusing on its roots as a real estate operator, investment manager and retail service provider, and by adding innovative investment programs and cutting-edge technologies.

“The cornerstone of our talents and abilities for 30 years has been identifying market opportunities, repurposing great assets and creating places that thrive as destinations. Moving forward, we will focus on our strengths and provide our capital partners and clients with diverse and creative investment management programs and with asset services offerings that are focused on retail and mixed-use property management, leasing and development,” said Madison Marquette Chairman Amer Hammour.

The Washington, DC-based investment management and real estate services firm’s renewed focus follows the recent sale of its office services business to global real estate services firm Avison Young. As part of that transaction, Madison Marquette will gain access to Avison Young’s cutting-edge data analytics platform that will enhance the full breadth of the firm’s experienced real estate investment practice.

“The changes we’re making reflect an entrepreneurial mindset, strategic vision and diligent focus on maximizing performance for clients and investors that provides insight and value at every stage of the real estate cycle,” said Madison Marquette Chief Executive Officer Vince Costantini. “In an industry increasingly impacted by technology, we see tremendous opportunity to improve and grow, especially with access to a new and powerful analytics tool for use in our core investment management practice across multiple asset classes, including office, multifamily, retail and retail mixed use.”

Since 1992, Madison Marquette has successfully identified unique market opportunities to source, invest, secure and manage sound investments for clients in both economic booms and downturns.

Madison Marquette continues to grow its transformative development business and invest in new properties. In Washington, DC, The Wharf is a $2 billion, 3.5 million sq. ft. mixed-use waterfront development. Also, in Washington, DC, the firm is developing Hillstead, formerly known as the Armed Forces Retirement Home, an 80-acre, 4.7 million sq. ft. mixed-use live, work, play and stay community. Madison Marquette is also investing in workforce housing, in office buildings, and in many retail, mixed-use and senior living properties.

Madison Marquette has recently launched innovative initiatives to capitalize on emerging market trends. The company’s Lemonade, Surplus Property Acquisition Program repositions portfolios of vacant or soon-to-be-vacant corporate-owned properties that are single-tenant stand-alone retail uses. The recent formation of Madison Highland Live/Work Lofts created a new category of real estate that offers distinct advantages to owners and investors by repurposing existing office buildings into live/work residential offices that meet current occupancy demands for convenient home office uses.

“Our evolution is now focused on making investments and providing services where we have a clear competitive advantage,” said Hammour.

About Madison Marquette

Madison Marquette is a boutique real estate investment and service firm with a national platform that transforms assets and delivers institutional quality results. We attract clients by reputation and maintain them through performance involving 175 employees in 8 regional offices in U.S. markets coast to coast. Our proven track record over three decades and over $6 billion in investments has earned us a reputation as a leading operator and investor in multiple property types including mixed-use retail, office, multifamily, senior housing, and medical office. Learn more at www.MadisonMarquette.com

 

MADISON MARQUETTE MEDIA CONTACT:

Lisa Kolakowski - October 6, 2022 - Feature - No Comments
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Avison Young to acquire Office and Industrial Property Management, Agency Leasing and Project Management Services from Madison Marquette

 

Transformative expansion to add 20 msf to firm’s Real Estate Management portfolio in Texas, California, the East Coast Region and Hawaii

 

Chicago, IL, Thursday, August 18, 2022 – Avison Young has signed an agreement to acquire Madison Marquette’s office and industrial property management, agency leasing and project management service lines. The trio of services will operate under the Avison Young brand and the deal is expected to close in September. The acquisition includes more than 20 million square feet (msf), and 235 team members including, property managers, agency leasing professionals, project managers, building engineers and accountants that will integrate with the firm’s markets primarily in Texas and California, the East Coast Region and, adding a new market for the firm in Hawaii. The combined operations will elevate both the client experience and Avison Young’s competitive advantage in the real estate industry, amplifying the firm’s presence in 11 states.

“I am delighted to welcome the team members from Madison Marquette to the Avison Young family,” said Juan Bueno, Principal and U.S. President at Avison Young. “Both organizations are aligned with the cultural mindset that focuses on people first and embraces the diversity of experiences that our people bring to our business and to our clients.”

Over the past year, Avison Young has invested in expanding its service offerings to support occupiers, owners and investors as they navigate through accelerating marketplace needs during challenging times. The firm’s expansion of property management, agency leasing and project management services lines in its robust Texas and California operations, significantly bolsters Avison Young’s presence in those geographically important markets. Avison Young’s data analytics, technology and global real estate intelligence platform coupled with Madison Marquette’s trophy assets and institutional clients, such as CenterPoint Energy, Starwood Property Trust, LLC and Principal Global Investors, formulate a mutually transformative opportunity for both firms and for their clients who will benefit from their fundamental strengths and operations.

“Growing our real estate management platform across the U.S. is a strategic priority for Avison Young. This transaction underscores our commitment to delivering new, improved and expanded services in all markets, especially those that are critical to all of our growing clients’ needs,” added Randel Waites, Principal and Managing Director, U.S. Real Estate Management Services Group at Avison Young. “Madison Marquette’s solutions-oriented approach to real estate management services complements our entrepreneurial and client-centric solutions, delivering long-term sustainable improvement in CRE services across the industries and critical operating environments of Avison Young’s clients.”

The unification of multi-sector assets and services stretches from the East Coast to Hawaii. Avison Young’s Texas market alone will gain 68 property management assets with a sum of 12.2 msf. The Houston market inherits the largest portfolio of property management buildings with 54 properties at 11.2 msf with Dallas adding 14 buildings totaling 966,451 sf. California will add 27 buildings at 4.2 msf; 2.5 msf on the East Coast, followed by Hawaii at seven buildings totaling 1.2 msf. The Hawaiian assets are comprised primarily of class A office buildings in downtown Honolulu.

“This is a transformative opportunity for both companies to build on their core strengths to achieve competitive advantage," said Madison Marquette Chief Executive Officer Vince Costantini. "We made the strategic choice to move a portion of our services to Avison Young to better serve our office clients, and look forward to a new partnership with the firm with respect to their industry-leading data analytics platform, AVANT by Avison Young.”

“Madison Marquette will now be able to focus on enhancing and growing its core investment management programs and advisory services, which includes its retail and mixed-use property management and development activities," said Madison Marquette Chairman Amer Hammour. "Our renewed focus will allow us to build on our expertise in retail, mixed-use, multifamily, office, and the medical and senior living categories."

Avison Young’s transformative expansion of capabilities and service offerings also includes the addition of seven seasoned industry leaders coming from Madison Marquette. In Houston, Wade Bowlin will join the firm as Principal and Managing Director, Kim Shapiro and Brad Sinclair will be Principals focusing on Agency Leasing and Brenda Dougherty will join as Principal, Director, Texas Real Estate Management Services. In Irvine, CA Jim Proehl will join as Principal and Director of the Western Region, Real Estate Management Services and Eileen Doody and Mark Mattis will join as Principals specializing in Agency Leasing.

 

About Madison Marquette
Madison Marquette is a real estate investment and service firm-based in Washington DC with a national platform that transforms assets and delivers institutional quality results. We attract clients by reputation and maintain them through performance from 10 regional offices in U.S. markets coast to coast. Our proven track record over three decades and $7 billion in investments has earned us a reputation as a leading operator and investor in multiple property types including retail, mixed-use, office, multifamily, senior housing, and medical office. Learn more at www.madisonmarquette.com.

 

About Avison Young
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2022 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 11 consecutive years.

www.avisonyoung.com

 

AVISON YOUNG MEDIA CONTACTS:

 

MADISON MARQUETTE MEDIA CONTACT:

 

BUSINESS DEVELOPMENT:

  • Juan Bueno, Principal & U.S. President, Chicago: +1.312.957.7600
  • Randel Waites, Principal, Managing Director, Real Estate Management Services Group, Chicago: +1.312.283.1872
whitney williams - August 18, 2022 - Feature - No Comments
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Madison Marquette Acquires 380-Unit Apartment Community in Wilmington, N.C.

Wilmington, N.C. – May 31, 2022 – Madison Marquette, a leading private full-service real estate provider, investment manager, developer and operator, today announced the recent closing of Crosswinds a 380-unit apartment community in Wilmington, N.C. as part of its Evergreen Multifamily Value Add Fund (the “Fund”).

Built in 1989, Crosswinds is centrally located within the Silver Lake neighborhood of Wilmington, N.C. With the property’s convenient and quiet location between the four major transportation arteries of Wilmington, residents have easy access to all of Wilmington’s employment hubs and lifestyle amenities including Wrightsville Beach and downtown Wilmington.

“We are extremely pleased to add Crosswinds to our multifamily portfolio and to extend our presence in the Carolina’s,” said Kevin Galligan, Managing Director, Housing Investments, Madison Marquette. “It’s location in the rapidly expanding Wilmington submarket will provide our residents with unparalleled access to many of Wilmington’s superb lifestyle amenities while presenting a clear value-add proposition through targeted unit renovations.”

The property consists of 19 buildings across approximately 23 acres creating a low-density of only 16.5 units per acre which allows for significant green space as well as spacious one-two- and three-bedroom units ranging from 645-to-1,306 square feet. Community amenities include a saltwater resort-style pool with a sundeck, grilling and picnic areas, lighted tennis, and volleyball courts along with fitness and business centers. The apartments themselves feature wood-style flooring, patio/balconies in each unit, wood-burning fireplaces, and full-size washer/dryer connections in most unit types.

“The Wilmington growth story is extremely compelling from for multifamily investment,” said Nigel Keenan, Principal, Housing Investments of Madison Marquette. “We believe our targeted renovation program will provide residents with high-quality housing and amenities while providing great work-life balance due to the close proximity to various amenities while achieving our Fund’s goals of buying differentiated real estate in compelling growth markets.”

The Fund plans to complete strategic unit upgrades that will provide higher quality hardware and finishes including appliances, flooring, and counter tops. It will also improve the community’s amenities, perform exterior aesthetic work and landscaping.

Wilmington has benefited from the population movement during the pandemic with the population in the surrounding 1-mile area increasing by 24% from 2010 to 2021 and projected to increase at a similar 10% growth rate over the next five years. The property is ideally located for residents who work at UNC Wilmington and New Hanover Regional Medical Center, as well as those employed by manufacturing and transportation companies such as General Electric Aviation and the Port of Wilmington.

In addition to North Carolina, Madison Marquette’s Evergreen Fund is targeting select U.S. growth markets that have favorable demographic and demand drivers including the Sunbelt, mid-Atlantic and northeast regions.

To date, the Madison Marquette Evergreen Series of Funds have transacted on approaching $1B in multifamily assets on over 5,000 units across the country. The Evergreen multifamily transactions are in addition to the acquisitions recently completed by Madison Highland Live/Work Lofts, a strategic investment and development platform to grow the next generation of live/work loft communities in key urban markets across the United States.

 

About Madison Marquette

Madison Marquette is a leading private full-service real estate provider, investment manager, developer and operator headquartered in Washington, D.C. The company delivers integrated investment, development, leasing and management services to a diverse portfolio of 330 assets in 20 states and manages an investment portfolio valued at over $6.2 billion. The company partners with global, institutional and private investors to provide industry-leading investment and advisory services across asset classes -- including mixed-use, retail, office, medical, industrial, senior living and multi-family. Following its 2019 merger with the Boston-based Roseview Group, Madison Marquette added capital markets, investment banking and corporate advisory services to its integrated capabilities. Founded in 1992, the company built its reputation on the successful development, repositioning and redevelopment of landmark mixed-use assets, and now leverages that performance legacy to provide clients with exceptional asset services and investment advice. Madison Marquette has a strategic bench of professionals providing nationwide service from 14 regional markets and is a member of the Capital Guidance group of companies.

 

Media Contact:

David Ebeling

[email protected]

949.861.8351

Lisa Kolakowski - May 31, 2022 - Multifamily - , , - No Comments
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