Kiser Group Closes Off-Market Portfolio Sale in Medical District
Kiser Group has brokered a $15-million apartment portfolio sale in the UIC Medical District. Seller University Rentals UIC sold the property to Bay Laurel Partners in an off-market deal. The portfolio is strategically located in proximity to UIC and Rush hospitals.
The portfolio comprises a mix of 25 two-bedroom one-bathroom units, nine three-bedroom two-bathroom units, seven three-bedroom one-and-a-half-bathroom units, and seven two-bedroom two-bathroom units, offering a diverse range of housing options.
The acquisition of this portfolio offers Bay Laurel Partners an opportunity to establish a significant presence in the UIC Medical District, a challenging neighborhood in which to become a large owner. This deal also sets a new benchmark for the price per door for a value-add property in the UIC Medical District, according to Kiser Group associate Will Cornish.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).