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All together, MPF and its related entities own and manage approximately $250 million in assets. In addition to its tailored investment programs, MPF manages several investment funds including Madison Park Properties, LLC, formerly Madison Park REIT; Madison Park Gateway, LLC; Madison Park Holdings, LLC; Madison Park Investors, LLC; and Madison Park Investors 2, LLC.
Madison Park Properties, LLC - Formed in 2006, the portfolio is a real estate income-producing vehicle focused on efficiently and profitably operating existing assets. The entity has ownership interests in a number of assets formerly held in Madison Park REIT. Currently, all properties in the portfolio are stabilized, with gross asset value of approximately $50,000,000.
Madison Park Gateway, LLC - Formed in 2006, the portfolio consists of several diverse properties, ranging from existing live/work and commercial properties, to mixed-use and residential development projects. When all projects have been completed, the portfolio will have a gross asset value of approximately $50,000,000.
Madison Park Holdings, LLC - A real estate investment program formed in 2007 for the purpose of acquiring a mix of existing properties and development opportunities. In 2007, the program acquired a total of four properties in the East Bay portion of the Bay Area. When all projects have been completed, the portfolio will have a gross asset value of approximately $75,000,000.
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MPF looks for both existing assets and development opportunities that allow for the creation of value through our core competencies; utilizing historic tax credits, repositioning underperforming assets, adaptive reuse and urban infill development, community creation, flexibility in deal structure and in-house property management and development, among others. Identification and execution are critical to successful deals.
In addition to working with the brokerage community, our competitive advantage is the ability to organically grow deals over time by building relationships with both the public and private stakeholders in each community we do business or consider doing business in.
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Live/work development and investment continues to be a primary focus for the company, not only because of its continued growth in demand locally and nationally, but also because it is a niche that has proven to produce higher returns, when done correctly, than traditional apartment assets.
Live/work units provide space and flexibility, attracting a lifestyle and a tenant base that results in lower turnover and operating costs, as well as a greater sense of community. In addition to the steady growth in demand for live/work space over the past 25 years, there is also a growing supply of underutilized buildings in urban cores across the country.
The emergence of major housing trends such as transit oriented development and green development have increased the popularity of adaptive reuse and urban infill development, which is typical of our Live/work projects.
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