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Chicago SIOR Chapter Hosts Luncheon on Acquisition, Financing
The Chicago Chapter of The Society of Industrial and Office Realtors (SIOR) recently hosted its Speaker Series Luncheon at The Glen Club in Glenview, Illinois.
Ryan Moen, SIOR, President of the SIOR Chicago Chapter, moderated a discussion about strategies for successful commercial real estate acquisitions and financing. The panel consisted of John Butler, executive managing director of acquisitions at Bradford Allen; Jack Brennan, a managing principal at Brennan Investment Group; and Chris Terzich, a relationships banker at CIBC.
Key takeaways include the need for investors to be highly selective in the current office market, opting for Class A properties with solid weighted average lease terms rather than the value-add Class B assets that were more viable in the past.
The luncheon also touched on how office financing remains a hurdle, with many deals requiring all-cash transactions due to the limited availability of bank financing and there were discussions on alternative financing structures that have become more common for office transactions.
