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September 18, 2024

Waterton Closes $1.7B Fund To Pounce On 'Historic Pricing Disruption' In Multifamily

How Are Trends In Patient Care, Investment And Development Shaping Chicago's Healthcare Landscape?

Real estate investment firm Waterton has closed a $1.7B fund to pursue value-add multifamily properties in Chicago and other major cities during what it calls a “period of historic pricing disruption.”

Waterton Closes $1.7B Fund To Pounce On 'Historic Pricing Disruption' In Multifamily

The Chicago-based company announced the closure of the Waterton Residential Property Venture XV fund on Monday. The fund secured equity commitments from a wide-ranging group of institutional investors and will target distressed multifamily opportunities and traditional value-add properties.“We expect to see significant opportunities in the multifamily sector as a result of…

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This Week's Chicago Deal Sheet

Waterton acquired a 310-unit apartment community at 450 Warrenville Road in Lisle for $77.5M from JVM Realty.

The deal brings Waterton’s owned and managed multifamily portfolio to over 7,000 units in the Chicago area. JVM paid $67M for the complex in 2017.

This Week's Chicago Deal Sheet

“The acquisition of Avant at the Arboretum is an excellent opportunity to expand Waterton’s footprint in the Chicago suburbs where we continue to see high household formation and strong demand for quality housing,” Waterton Senior Vice President of Acquisitions Julie Heigel said in a press release.Waterton plans to renovate units,…

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Proposal To Create More Data Centers Within Chicago City Limits Earns Committee Approval

A city subcommittee approved an ordinance Wednesday aimed at incentivizing developers to build data centers in Chicago.

Proposal To Create More Data Centers Within Chicago City Limits Earns Committee Approval

The Chicago Data Residency Ordinance, spearheaded by 36th Ward Alderman Gilbert Villegas, aims to influence companies to store city data within city limits and support the development of new data centers within Chicago. The city's Committee on Economic, Capital and Technology Development approved the proposal and it is now scheduled for a full city council vote on Sept.…

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Fed Cuts Interest Rates By 50 Basis Points

Fed Cuts Interest Rates By 50 Basis Points  

At long last, it’s here. 

The Federal Open Market Committee cut the target range for the federal funds rate by a surprising 50 basis points Wednesday, the first rate reduction since the onset of the coronavirus pandemic. The move came alongside a Federal Reserve projection that it will cut rates by an additional 50 bps before year-end.

In light of the progress on inflation and the balance of risks, the committee decided to lower the target range for the federal funds rate by half a percentage point to 4.75% to 5%.  In remarks after the announcement, Federal Reserve Chairman Jerome Powell said the committee would…

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