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New York

Chrysler East investor closes $510M fund

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From left: Madison founder Ronald Dickerman and Chrysler East

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Madison International Realty has closed on its latest fund, Madison International Real Estate Liquidity Fund IV, with $510 million in equity commitments, the firm announced today. The fund exceeded its original goal of $400 million, after receiving “broad support… from our domestic and international investors,” said Ronald Dickerman, Madison’s founder. The firm, which specializes in partial ownership interests, used the fund to increase its stake in the Chrysler East Building at 666 Third Avenue to 48.9 percent from 38.5 percent last November. (note: correction appended) TRD

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Madison International Realty