All Forum Posts by: Doug Hayden

We can't disclose as we are working on off market transactions. I would like to chat with you about how to ensure our offers make it to the Bigger Pockets Community. I'm setting up our Safe Investment under the Passive Investors today. 

Quote from @Jonathan Klemm:

Hey @Doug Hayden - This is a pretty small deal! jk Wow that is a fantastic spread!

I am super interested in "fully prefabricated off-site construction." Is there someone on your team here in Chicago that I could connect with?

Who did you all use for your architect, engineer, and general contractor?

Hello Jonathan: I Ground teams in Chicago, NYC, DC, San Fran, and LA. We will be setting up in Bigger Pockets as a Syndication and fund looking for Hard Money Investors as our Acquisitions Team is Building out Capital Stacks. 

Quote from @John Jacobs:

@Doug Hayden

Hi Doug,  I grew up in a suburb of Chicago.  Is the building in the picture (i.e. the building in question) on Michigan Avenue?

 Hello: This is on laSalle. We have more than 10 Buildings in Chicago we are looking at. I'm going to be setting up on Bigger Pockets with Syndications and Funds for Conversions across the US and Canada. This is my personal Profile. https://issuu.com/resilientseries/docs/arthroto_magazine_apr...

Investment Info:

Office Space other investment.

Purchase price: $3,000,000
Cash invested: $67,000,000
Sale price: $87,500,000

We are purchasing a Distressed Office Building that is in Special Servicing (foreclosure) to convert to a Hotel.

What made you interested in investing in this type of deal?

We Specialize in Conversions and Ground up Builds with fully Prefabricated Off Site Construction

How did you find this deal and how did you negotiate it?

Through our local Ground team of Commercial Brokers and Architects.

How did you finance this deal?

Hard funds, PACE Fundings, and a mix of Private and Bank.

How did you add value to the deal?

Fully converting an unused office building into a Hotel

What was the outcome?

Still in Progress

Lessons learned? Challenges?

Have very good partners and find the best Architects and Engineers.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Absolutely, we have a top Office Broker working with us to find and secure B class office assets.