Investment Info:
Large multi-family (5+ units) commercial investment investment in Chicago Hts.
Purchase price: $482,000,000
Cash invested: $26,000,000
The Las Vegas property is a Hotel and Casino, Chicago is a 814 unit profile.
What made you interested in investing in this type of deal?
It is important to know that, when it comes to appraisals and due diluents'. Seek out added value, NOI, and T12's. If this makes since, Then get the money you need to buy and have the property pay for itself.
How did you find this deal and how did you negotiate it?
These deal were auction deals, and brought together with invested partners.
How did you finance this deal?
The deals, on any deal is generally financed with assets other property used as collateral asset.
How did you add value to the deal?
The NOI and financials with provide the Cape Rate, and NOI to determine the value.
What was the outcome?
Escrow is always the best outcome on any deal.
Lessons learned? Challenges?
Getting the full numbers and not just what in a portfolio.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Just other investors.
