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| 901 West Jackson, Chicago, IL |
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| Susan Tjarksen |
CHICAGO, IL (Nov. 8, 2016)
— KIG, Chicago’s leading commercial real estate brokerage firm specializing in
institutional multifamily properties throughout the Midwest, today announced it
has brokered an $86 million portfolio sale of six vintage office buildings and
three land sites in downtown Chicago.
Real estate investment
firm R2 Companies purchased the properties, located throughout the West Loop,
Greektown, River North and Printers Row, from Chicago-based Loft Development
Corp., which was represented by KIG Principal and Managing Broker Susan Tjarksen.
“For a transaction of this
scale, it was crucial for KIG to find a buyer that was not only familiar with
these neighborhoods, but also had the connections and experience necessary to
maximize the value of the underlying real estate through adaptive reuse and
multifamily developments,” said Tjarksen.
“R2 was selected because of their successful track
record of developing, renovating and repositioning commercial real estate
assets, including numerous loft office buildings and land sites, throughout
Chicago and the Midwest.”
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| Matt Garrison |
“These properties are
located in some of Chicago’s hottest neighborhoods for office, retail and
residential development, which made them especially attractive from an
investment standpoint because we were able to expand our footprint in a single
transaction,” said Matt Garrison,
managing principal of R2.
“With the help of KIG, we were able to see the potential in each asset and value that could be realized through additional investment.”
“With the help of KIG, we were able to see the potential in each asset and value that could be realized through additional investment.”
For a complete copy of the company’s news release,
please contact:
Rebecca Boykin,
rboykin@taylorjohnson.com, (312) 267-4523
Abe Tekippe,
atekippe@taylorjohnson.com, (312) 267-4528
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