Capital Sq. and CENTURY Buy CBD Parking

CHICAGO—Chicago’s downtown has a lack of supply when it comes to parking garages, and such properties don’t come up for sale very often, but Capital Square Realty Advisors, LLC has just formed a partnership with CENTURY Parking Group to acquire two parking facilities in an off-market transaction. The partners acquired CSRA Chicago Parking I, DST, comprised of two parking garages in downtown Chicago. Both are 100% leased to Buddy’s Parking. The terms were not disclosed.

“We’re excited to add parking facilities to our platform through a trusted partnership. These parking garages are well-located within established and heavily trafficked districts of downtown Chicago that have high barriers to entry for new parking areas and facilities,” says Louis Rogers, founder and chief executive officer of Capital Square. “The parking garages benefit from numerous major retailers, restaurants, office buildings, luxury hotels and condominiums that are on-site or within close walking distance of the property.”