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JRG Plans $75M Purchases by 2014

CHICAGO-The company led by local prominent multifamily investors Charles and Harry Huzenis plans buys of downtown infill sites to hold for future development.

By Robert Carr | Updated on March 04, 2012

CHICAGO-Local investor brothers Harry and Charles Huzenis said they have raised $30 million through their JRG Capital Partners firm, based here, to invest up to $75 million in asset purchases. The company will buy up properties priced from $1 million to $10 million, with plans to hold the sites for future development, likely for multifamily uses.

Though the company has a history of developing condos, JRG and other Huzenis firms have owned a variety of urban infill assets in Chicago, including retail centers, net lease assets, parking lots and industrial buildings. Cheri Grossman, the company’s senior acquisitions officer, tells GlobeSt.com that JRG has letters of intent out now on 10 separate properties, though she says she can’t divulge the locations.

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