Plymouth Industrial REIT and Madison International have formed a $150 million equity joint venture to acquire value-add and opportunistic industrial properties. Plymouth will own a 20% interest in the joint venture, and Madison will own an 80% interest.
The JV is an expansion of the two companies' existing relationship, which began in 2018 when Madison made a convertible preferred investment in the REIT and participated in subsequent common equity follow on offerings.
Plymouth will be responsible for day-to-day oversight of the joint venture and will be entitled to an annual asset management fee equal to 1% of the total equity contributed to the joint venture. Plymouth also has options to purchase properties out of the joint venture over time.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
