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‘Driving The Market’: Private Capital’s Impact On Chicago And The Midwest
October 16, 2024
Commercial real estate deals in the Windy City and elsewhere have had their share of headwinds the last few years, but they have also had a little breeze at their backs thanks to private investors.
Private capital accounted for 73% of the total market in 2023 and 65% year to date in CRE transactions below $50M, said David Gaines, a managing director in JLL’s Capital Markets Group and co-head of the Private Capital Group.
Gaines said all major asset classes are benefiting from this infusion of private capital, with 33% of the volume in industrial, 24% in retail, 23% in apartments and 20% in office.
Bisnow spoke with Gaines to learn how this trend is playing out in Chicago and what advice he has for investors and developers.
