Eagle Infinite Investments LLC, an investment platform offering tax advantaged and other real estate syndication investment programs, announced the $29 million purchase of a 200-unit multifamily portfolio of eight buildings in Chicago’s Hyde Park, Kenwood and Bronzeville neighborhoods.
Eagle Infinite says the intent behind this acquisition is to merge the portfolio into a new DST offering within the next year, following value-add efforts. This operating portfolio will be added to Eagle OZ, Eagle Infinite’s opportunity zone program that is currently building 102 new multi-family units in the same neighborhoods of Chicago.
“This acquisition will continue to grow our footprint in Chicago’s Bronzeville neighborhood, creating operating efficiencies for our Eagle OZ program, and providing Eagle Infinite with a strong asset to pivot into the Delaware statutory trust market, a natural progression for Eagle Infinite,” said Jamie Nahon, chief executive officer.
All the buildings in the portfolio are within a 2.5-mile radius.
The company claims future growth will be “propelled by the redevelopment of the Bronzeville Lakefront with 8 million square feet of new mixed space in the coming years, expected to have an $8 billion economic impact and create tens of thousands of new jobs.”
Eagle Infinite Investments is an investment platform offering tax advantaged and other real estate syndication investment programs.
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