Shopping Center Business

MAY 2015

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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180 • SHOPPING CENTER BUSINESS • MAY 2015 Interview by Randall Shearin Eric Hohmann, president of Madison Marquette, explains the company's investment and operations model, and discusses trends the company sees in the industry. Madison Marquette's Investor- Operator Model W ith the retail industry chang- ing, Shopping Center Business wanted to get a view from a company who owns and operates a variety of shopping centers across the country. Madison Marquette has been a force in the industry for many years, and is known for its talents in repositioning centers of all shapes and sizes. While in San Francisco recently, SCB interviewed Eric Hohmann, president of Madison Marquette, to get the company's take on new trends in retail real estate. SCB: Madison Marquette has a number of interests in centers today. Everyone knows you for developing projects, re- developments and as an owner. How is Madison Marquette active in the industry today? Hohmann: We have 51 centers that we are actively managing today. In a little more than half of those, we have an in- vestment stake. We do some fee-based management for clients. Our model is to be an investor-operator. In addition to in- vesting in centers, we also have a property management platform, so we do leasing, construction management and develop as well. Our roots are as a developer, but we have evolved over the years to have an operating capability. Historically, we have been an operating partner for capi- tal partners that we co-invested with. We have expanded our capabilities to invest- ment management, which started with our fund that we raised about six years ago; our commingled discretionary fund. We have followed in the footsteps of many of the other family companies who started as developers like Hines and Shorenstein. We are an investor-operator with co-in- vestment capital. SCB: Madison Marquette has a long his- tory in this industry, dating back to the 1970s. Hohmann: At our roots, we are tinker- ers. We have that development and re- Madison Marquette is developing The Wharf, a major mixed-use project in Washington, D.C., designed to bring the waterfront alive in the city for the first time. The project is also demonstrative of the company's investor-operator approach.

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