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chi-ResidencesofOrlandParkCrossing (2) The Residences of Orland Park Crossing consists of four mid-rise elevator buildings with one- and two-bedroom units averaging 980 square feet, and 63 rowhomes and townhomes ranging from 1,487 to 1,994 square feet.

CHICAGO—The intense demand for rental apartments has also attracted a lot of investment capital to the multifamily sector. Buyers have even started to focus on value-add properties in the suburbs, and that in turn is forcing longtime players in that space to expand their own searches.

“We have done a temporary pivot in our investment strategy,” David Carlson, a partner at Redwood Capital Group, LLC, tells GlobeSt.com. The Chicago-based firm is a national leader in the acquisition and renovation of class B workforce housing in the suburbs, but all the new money in the space has pushed down cap rates, and recently it began buying up well-located new construction.

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Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

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