Beacon: A Long-Term Player in Chicago

CHICAGO—Yesterday, GlobeSt.com reported that Beacon Investment Properties, LLC had completed its acquisition of Riverwalk II, a 12-story, class A office tower in suburban Buffalo Grove, its third major Chicago-area acquisition in six months. And today, managing partner Ariel Bentata tells GlobeSt.com that Chicago and other Midwest cities like Minneapolis now have better deals to offer than gateway markets on the coasts.

“We have a high concentration of properties in Texas and some concentration in the Southeast, so we are diversifying our portfolio,” he says. “We’re buying at incredible cap rates and these buildings have great cash flow. Of all the gateway markets, Chicago presents the best opportunities in terms of pricing and rent growth.”