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Newcastle creates investment fund

February 1, 2007

By Editorial Staff
Midwest Real Estate News

CHICAGO- Newcastle Limited has formed a $500 million platform focused on strategic real estate investment in the Chicago area.

Newcastle's capital comes from institutional and private investors, and the firm's investment efforts will focus on Chicago and downtown areas of Chicago suburbs.  The fund will target most types of commercial property, as well as multifamily residential assets.  Stabilized or challenged properties, as well as new development opportunities, will also be considered, and most investments will range from $5 million to $50 million.

"This investment initiative builds on our track record of creating value for our clients," said Michael R. Haney, president and CEO of Newcastle Limited, in a press release.  "The magnitude of the platform reinforces Newcastle's commitment to Chicago."

Newcastle's decision to raise institutional capital for these transactions was driven by its desire to move decisively when present with attractive investment opportunities.

"As entrepreneurial investor with institutional backing, Newcastle can deploy large amounts of capital quickly," said Haney.  "Our financial wherewithal and ready capital will give us the speed and credibility we need to become a preferred buyer in the urban market."

Newcastle clients include Loyola, DePaul, and Roosevelt universities, The Art Institute of Chicago, The YMCA of Metropolitan Chicago, Easter Seals Metropolitan Chicago and many others.

Recent accomplishments include the sale of Barat College in Lake Forest, Illinois on behalf of DePaul University, the formation of the Sheridan/Devon TIF District in Chicago's Rogers Park neighborhood on behalf of Loyola University, and the development of a new school and research center for autistic children on behalf of Easter Seals.

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