Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Clear Investment Group Aims at Multifamily Portfolios with $300M Fund
Chicago-based Clear Investment Group (CIG) is targeting $300 million for the Clear Opportunities Fund II it launched in March, the Chicago Business Journal reported. It’s seeking to acquire multifamily properties, such as distressed workforce housing, across the country and in the Chicago market.
With the first round of fundraising scheduled to close July 1, CIG is aiming at large portfolios of 300 to 1,200 units. Yet it has been challenging to find these types of portfolios in the Chicago market, CEO Amy Rubenstein told the Business Journal.
“In recent years, we have found that Chicago has presented fewer large-scale distressed opportunities,” said Rubenstein. “[However], we continue to actively explore the Chicago multifamily market.”
She added that CIG has deals in the pipeline in Dallas and Houston while seeking opportunities in Chicago. “The fund’s strategy continues to emphasize distressed investments in markets with strong fundamentals and untapped potential,” Rubenstein told the Business Journal.
