Chicago

The properties acquired total a combined 317 units and increase the firm’s multifamily holdings in Chicago to 1,063 units and its total holdings in the Washington DC metro area to 1,169 units, according to John Williams, president and CIO at Avanath Capital Management.

Adaptive reuse projects will make up a greater percentage of investment activity than self-storage and other non-core property types by 2023

Fund VII will invest in the senior housing, healthcare, student housing, life sciences and storage sectors.

Since 2017, the Chicago area has seen a slight increase in investment within Opportunity Zones, while values in those areas have decreased.

The Rebuild Illinois initiative, passed and signed into law in June 2019, dedicates $400 million to partnering with Internet service providers to build 21st century infrastructure connecting communities across the state to high-speed Internet.

“Despite talk of a deconversion slowdown, and Chicago’s proposed ordinance to increase the required approval rate to prevent ‘hostile’ deconversions, we believe the trend will continue as long as investor appetite for multifamily remains strong and people prefer to live in apartments,” Stengle says.