CHICAGO--(BUSINESS WIRE)--South Street Capital (“SSC”), a Chicago based, privately controlled real estate investment firm, announces a major, multi-state expansion of its acquisition strategy.
Over the next twenty-four months, South Street Capital seeks to acquire 1-million square feet of office, retail and multi-family assets in select areas of the Midwest including Chicago, Minneapolis and Indianapolis as well as core areas of Orange County and Los Angeles. The firm also seeks to acquire 1-million square feet of self-storage assets in select areas of the Midwest including Minneapolis, Cincinnati and Indianapolis as well as in key submarkets of Dallas, Austin and Houston.
During the second half of 2014 and the first half of 2015, the firm capitalized on a robust commercial real estate market by selling a substantial portion of its loft office and retail portfolio located in the Gold Coast, River North and West Loop neighborhoods of downtown Chicago. The recent sale of 1165 N. Clark, located in Chicago’s Gold Coast neighborhood, for $22.75 million to AIMS Real Estate, an affiliate of New York-based Goldman Sachs, highlighted asset sales that totaled approximately $50 million. Additionally, South Street Capital has exited all investments located in the Goose Island submarket of downtown Chicago.
“Following the disposition of a number of our real estate holdings located in downtown Chicago over the last twelve months, we are eager to accelerate and expand our acquisition pipeline,” adds Marc Muinzer, Founder of South Street Capital. “We are constantly evaluating our portfolio and looking to opportunistically exit niche real estate investment sectors and submarkets when they become overly popular. At the same time we continually look to redeploy capital into areas that are receiving less attention. With our recent success, South Street Capital is in a position to quickly execute on new acquisition opportunities.”
South Street Capital is a Chicago-based, privately controlled real estate investment firm founded in 2002 by Marc Muinzer. Led by a team of innovative professionals, South Street Capital acquires under-performing assets at a discount to replacement cost in high barrier to entry markets. Once acquired, SSC embarks on a series of processes to create value and turn these assets into stabilized, cash flowing properties. Upon completion of the turn-around, South Street Capital aims to monetize its investment. The firm invests its own capital alongside select institutions and high net worth individuals. Throughout multiple macroeconomic cycles SSC has achieved exceptional investment returns.
For more information please visit http://www.southstreet.me