Rosemont, IL – January 17, 2017 – Venture One Real Estate through its acquisition fund, VK Industrial IV, LP, a partnership between Venture One and Kovitz Investment Group, in a joint Venture with DRA Advisors has closed on the acquisition of a 956,565-square foot, 14 building portfolio located in the O’Hare and Lake County Industrial Submarkets of Chicago.
The portfolio consists of 14 properties with an overall occupancy of approximately 93%. It is a mixture of both single and multi-tenant industrial properties ranging from 10,000 to 187,460 square feet. Unit sizes range from 1,860 to 187,460 square feet.
Matt Goode, Principal at Venture One stated, “This was a unique opportunity to acquire a critical mass of functional industrial properties in the highly sought after DuPage County O’Hare market. Along with the lake county buildings, there is a lot of synergy between our existing portfolio and these assets.”
Jim Carpenter, Michael Tenteris and Adam Tyler of Cushman & Wakefield represented the Seller in the transaction.
Venture One Real Estate
Venture One is a real estate private equity fund manager, developer and operating company specializing in the industrial property sector. Headquartered in Chicago, Venture One manages a series of discretionary value-add investment funds that target opportunities throughout the Chicago MSA and Northeast Industrial Region. Principals of Venture One have over $7 billion of transactional experience. For further information go to www.VentureOneRE.com.
DRA Advisors LLC was founded in 1986 and is a Registered Investment Advisor that specializes in real estate investment and management for institutional investors and manages $10 billion of assets. As of 9/30/17, DRA funds own 560 properties across the United States, including 39 million square feet of industrial, 30 million square feet of retail, 13 million square feet of office, and 13,000 multifamily units. DRA is headquartered in New York City, with regional offices in San Francisco and Miami. For more information, visit www.draadvisors.com.
Kovitz Investment Group
Kovitz Investment Group® (KIG), is an independently-managed, registered investment adviser, founded in 2003. KIG is dedicated to providing best-in-class investment and wealth management solutions for high net worth individuals and their families, family offices, institutions, and financial professionals. For more information, please visit www.Kovitz.com.