Challenge: The Colliers team marketed this 30 building portfolio of B properties scattered throughout the Chicago area. With significant deferred maintenance and a portfolio of small tenant buildings that were only 81% leased, the team was challenged to find operators who were willing to take on the work to reposition these assets.
|Client (Seller):||Colony Realty Advisors|
|Buyer:||Brennan Investment Group/Dune Capital|
|Size:||2,064,999 SF (22% office)|
|Purchase Price:||$82,540,000 ($39.97/SF)|
|Capitalization Rate:||8.00% Current/9.2% Stabilized|
|Closing Date:||December 2016|
Result: The Colliers team was able to sell NY based Dune Capital to make their first investment in Chicago area industrial product as the provided the equity capital for operator Brennan Investment.