RealtyMogul.com, one of the leading online marketplaces for real estate investing, announced the closing of a $1,000,000 equity investment in an industrial property in Glendale Heights, IL, within the Chicago metropolitan area. The sponsor for the acquisition is Clear Height Properties, a real estate investment and management company headquartered in Chicago. The property, an 85 percent-occupied flex-industrial space comprised of over 100,000 square feet, was acquired below replacement cost. RealtyMogul.com investors were offered the opportunity to help finance the acquisition by contributing equity capital.
“We have seen a lot of activity in Illinois recently, and this deal is another demonstration of investor appetite for exposure to the rich commercial real estate market in the area,” said Jilliene Helman, CEO of RealtyMogul.com. “It is also another proof point of the effectiveness and utility of online marketplaces such as ours in providing financing for commercial real estate investments.”
The sponsor sees this investment as an opportunity to capitalize on an under-managed asset in a market with which it is familiar. Clear Height Properties focuses on owning and operating industrial assets within the Chicago metropolitan area. Its portfolio currently includes 20 industrial assets within the area, totaling nearly one million square feet.
“The combination of an experienced sponsor that understands the local market and an asset that has both in-place cash flow and upside potential made this investment opportunity a great fit for us and our investors,” added Helman.
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