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Commercial real estate deals in the Windy City and elsewhere have had their share of headwinds the last few years, but they have also had a little breeze at their backs thanks to private investors.
Private capital accounted for 73% of the total market in 2023 and 65% year to date in CRE transactions below $50M, said David Gaines, a managing director in JLL’s Capital Markets Group and co-head of the Private Capital Group.
Gaines said all major asset classes are benefiting from this infusion of private capital, with 33% of the volume in industrial, 24% in retail, 23% in apartments and 20% in office.
Bisnow spoke with Gaines to learn how this trend is playing out in Chicago and what advice he has for investors and developers.
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