The Residences of Orland Park Crossing consists offour mid-rise elevator buildings with one- and two-bedroom unitsaveraging 980 square feet, and 63 rowhomes and townhomes rangingfrom 1,487 to 1,994 square feet.
CHICAGO—The intense demand for rental apartments has alsoattracted a lot of investment capital to the multifamily sector.Buyers have even started to focus on value-add properties in the suburbs, and thatin turn is forcing longtime players in that space to expand theirown searches.
“We have done a temporary pivot in our investment strategy,”David Carlson, a partner atRedwood Capital Group, LLC, tells GlobeSt.com. TheChicago-based firm is a national leader in the acquisition andrenovation of class B workforce housing in the suburbs, but all thenew money in the space has pushed down cap rates, and recently itbegan 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.
