January 6, 2019
As exclusive advisor, we are seeking $58 Million of Joint Venture Equity to reposition a mixed-use property located on a prime corner in Chicago, Illinois.
Key Highlights
• The retail space is leased to national credit tenants with below market leases with high sales PSF.
• There is additional upside in the office space as one of the larger tenants recently vacated the building.
• A portion of the office space is being repositioned into a boutique, 5-star hotel.
• The investment risk of the hotel component is offset by existing, substantial cash flow generated by the retail and office tenants.
• Debt financing is in-place.
• The investment is projected to yield a 2.2X Equity Multiple and a 25% IRR.
If you would like additional information on this opportunity or to discuss further, please contact:
Michael Campbell – Partner
mjc@carltongroup.com
(212) 716-5611
https://www.linkedin.com/pulse/office-hotel-jv-equity-opportunity-chicago-illinois-michael-campbell/
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