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September 15, 2020

This Week's Chicago Deal Sheet

[Webinar] What Type Of Deals Are Raising The Most Equity Right Now? Find Out At Getting Deals Done This Fall: Deals Raising Capital Part II Sept. 16

Oak Brook, Illinois-based Inland Private Capital Corp. and Devon Self Storage formed a partnership to redevelop and operate self-storage properties in qualified opportunity zones across the nation. IPC has already built up its self-storage portfolio to more than $740M in assets under management, with 59,000 units in 124 properties across 15 states. Devon manages a significant portion of this portfolio.

This Week's Chicago Deal Sheet

Devon has owned, developed and managed more than 180 facilities in 24 states and three European countries. It has been involved in more than $2.5B in self-storage transactions, partnering with several institutional investment firms. Devon typically acquires pre-existing properties and converts them to self-storage facilities.IPC officials say the self-storage sector…

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Top Stories on Bisnow.com

Aimco Spins Off Multifamily Portfolio Into $8B New REIT Aimco Spins Off Multifamily Portfolio Into $8B New REIT
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Rare Amazon Property Hits The Market And Is Snapped Up

Rare Amazon Property Hits The Market And Is Snapped Up

Amazon is spreading new facilities big and small throughout the Chicago metro area, and with the coronavirus pandemic boosting e-commerce to historic levels, investors are hungry for Amazon-branded properties. Los Angeles-based Westwood Financial just sold its single-tenant Amazon Hub

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Beyond The Pane: The Engineer Behind Some Of The U.S.’ Most Impressive Glass Structures

PRESENTED BY:   Klein & Hoffman
 
Beyond The Pane: The Engineer Behind Some Of The U.S.’ Most Impressive Glass Structures

A glass walkway suspended hundreds of feet above the ground. Cylindrical aquarium viewing walls made of glass and holding back tons of water. Glass staircases that appear to float in midair.If you're an architect or a designer planning something ambitious with glass, your first call very well might be to…

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Annual Real Estate Games Begins Weeklong, Virtual Event

Annual Real Estate Games Begins Weeklong, Virtual Event  

The real estate industry in D.C. has been hosting the JDRF Real Estate Games for more than 30 years, but this year is the first that will not feature teams competing in person.  The D.C., New York and Chicago markets are combining their annual games, which raise money to combat Type 1 diabetes,…

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‘Diversity Is Being Invited To A Party, But Inclusion Is Being Asked To Dance.’

 

Shamez Alibhai was trying to work out why, in spite of his best efforts, all of the people responding to his job advert were men.

“We took the advert and ran it through an AI program that examines the nature of the language you are using,” the head of Community Housing and Portfolio Manager at hedge fund Man Group said. “Sadly I scored 10 out of 10 on male-dominated language, and that was a hard lesson about bias: Even though you are trying to do the right thing and look in a more diverse range of places, those biases that you bring can overwhelm your good intentions.”

Biases and culture were key topics on Bisnow’s webinar The Honest Truth About Making Real Estate More Diverse, which had a particular focus on ethnic diversity, an area in which the sector is particularly lacking.

A panel of professionals from all areas of real estate cited adjustments in company culture as crucial if real estate wants to make a real change. Without a culture that allows a diverse range of people to succeed, measures like quotas will do more harm than good. While companies have to be held to account in terms of promises to become more diverse, if the culture isn’t right, quotas can simply set candidates up to fail if they don’t come from the traditional real estate background of the white male.

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This 1.4M SF, $773M Spec Office Development Was Launched In The Downturn — And It's Built Entirely Of Wood

Economic downturns are usually a time of caution, especially in real estate. Debt markets become tight. Developers don’t build because they can’t predict demand. 

But …

A joint venture backed by Ivanhoé Cambridge has put together a €650M ($773M, £598M) funding package for a 1.4M SF office development that is being developed with no tenants lined up. And here’s the kicker — it is built entirely from wood. 

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