Finance N Illinois
Origin Investments’ new opportunity zone fund attracts $105M in 17 hours

Origin Investments’ new opportunity zone fund attracts $105M in 17 hours

Chicago-based private equity real estate firm Origin Investments launched a Qualified Opportunity Zone (QOZ) fund on Nov. 14 and amassed $105 million in commitments from 425 investors in 17 hours. While other firms are raising blind capital for QOZ funds, Origin has three multifamily opportunity zone projects under contract—one in Denver and two in Charlotte, cities that make the top 10 markets to watch in Urban Land Institute’s 2019 Emerging Trends in Real Estate report.

Finance N Illinois
The new world of real estate crowdfunding can be successful, if one knows where the pitfalls are and how to avoid them.

The fall of RealtyShares: Four lessons learned

The collapse of RealtyShares has sent shock waves through the nascent online real estate syndication industry—colloquially known as real estate “crowdfunding”—but there are both reasons for optimism and lessons to be learned. The failure of RealtyShares is not an indictment of the premise upon which real estate crowdfunding is based. It is the application of a business model that, though it had worked in other industries (most notably, tech), was ill-suited to the world of real estate capital formation.

Finance N Illinois
Robert Probst;Ventas, Inc.

Ventas' Robert Probst recognized as CFO of the year

Robert F. Probst, executive vice president and chief financial officer of Ventas, Inc. has been awarded the 2018 Chicago Public Company CFO of the Year by the Financial Executives International Chicago Chapter. The award was presented during the 8th Annual Chicago CFO of the Year Awards reception and dinner.

Finance i Ohio
Tony Love;Bellwether Enterprise Real Estate Capital

Bellwether Enterprise names SVP in Cleveland

Bellwether Enterprise Real Estate Capital LLC named Tony Love senior vice president in the Cleveland office, the headquarters of the company’s 30 offices nationwide. Love will work as part of the Affordable Group, employing his years of experience with FHA underwriting and HUD programs.

Finance N Illinois
Zach Fox;Mesirow Financial

Mesirow Financial expands sale-leaseback team with appointment of Zach Fox

Mesirow Financial announced that Zach Fox has joined the firm's sale-leaseback capital group as a vice president. In this new position, which is based in Chicago, Fox will focus on new business development and client management, leveraging his extensive industry expertise and long-standing relationships to further enhance Mesirow Financial's position as a nationally recognized leader of sale-leaseback capital.

Finance N Illinois
Matt Reilein;Cresset Partners

Matt Reilein joins Cresset to lead opportunity zone efforts

The Cresset-Diversified QOZ Fund and Cresset Partners announced today that Matt Reilein will join both the fund and the Cresset team. Reilein has a deep background in community finance and development and impact investing. He has spent more than 15 years forming relationships and building teams to deliver market-driven capital to low-income communities as head of impact investing with O’Brien-Staley Partners and prior to that as managing director, community development banking with J.P. Morgan.

Finance N Illinois
Manny Flores;SomerCor

Former Chicago Alderman Manny Flores to helm SBA lender SomerCor

SomerCor, a Chicago-based Small Business Administration (SBA) Certified Development Company (CDC), has appointed Manuel “Manny” Flores as president and chief executive officer. Flores takes the reins at SomerCor after serving two years as a member of the nonprofit lender’s board of directors. Flores brings a unique blend of public and private sector experience and leadership to the role.