Exhibit 99(A)(7)

Madison Completes Tender Offer for Units in Marriott Residence Inn Limited
Partnership


Denver, CO, July 9 - Madison Liquidity Investors 114, LLC announced today that
its tender offer to purchase up to 13,120 Units of limited partnership interest
at $300 per Unit of Marriott Residence Inn Limited Partnership expired, as
scheduled, on Tuesday, June 26, 2001. Madison accepted for purchase in
accordance with the terms of its Offer all Units validly tendered and not
withdrawn prior to the expiration of the Offer.

Approximately 2,271 Units (about 3.46% of the outstanding Units) were validly
tendered and not withdrawn. Upon payment for these Units in accordance with the
Terms of its Offer, Madison will beneficially own approximately 3.71% of the
total number of outstanding Units (including Units beneficially owned by certain
of Madison's co-bidders prior to commencement of the Offer). Payment for shares
validly tendered and not withdrawn, together with interest as provided in the
Offer, is expected to be made after approximately October 1, 2001 (the beginning
of Marriott Residence Inn's fourth fiscal quarter) in accordance with the terms
of the Offer.

Madison Liquidity Investors 114, LLC is a joint venture between Madison Capital
Management LLC ("Madison"), Haberhill LLC ("Haberhill") and other affiliates of
Madison. Madison is a privately-held investment management firm, and Haberhill
is a privately-held real estate investment advisory firm.

Questions and requests for assistance or additional copies of the tender offer
material may be directed to Madison Liquidity Investors 114, LLC, 6143 South
Willow Drive, Suite 200, Greenwood Village, CO 80111.

Telephone
(800) 269-7313.