CHICAGO—Kiser Institutional Group, a Chicago-based broker specializing multifamily properties throughout the Midwest, has just listed for sale 1,100 apartments located in several portfolios throughout KY, WI and IL. And even though this is a significant number of units to hit the market, Kiser officials say they expect to garner a great deal of interest from investors across the US looking for the higher returns that value-add properties outside core areas can generate.
“It's the year of the portfolio,” Susan Tjarksen, principal and managing broker of KIG, tells GlobeSt.com, mainly because many sellers have noted the intensity of buyer demand and decided that “if I'm going to sell one property I might as well sell all five of them.” And buyers tend to appreciate this because it allows them to spread the risk among several geographic regions and types of tenants “instead of buying 500 units in one submarket.”
KIG new listings include a 202-unit apartment community in Lexington, KY; a three-property portfolio totaling 408 units in Gurnee, IL, Madison, WI, and Janesville, WI; and a two-property portfolio comprising 516 units in Waukegan, IL, a far north suburb of Chicago. KIG is marketing the properties without asking prices.
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