CHICAGO—It's getting more challenging to find attractive retail deals in the US, and some firms are adopting new strategies. Next Realty, LLC, for example, a Northbrook, IL-based firm, has decided to expand its Next Equity Program, an effort to acquire real estate by providing equity to local partners in select markets throughout the US.
Founded in 1998, Next Realty historically has acquired retail centers and net leased properties, parking facilities and development sites ranging from $5 million to $50 million, having invested over $125 million in equity since inception. In its Next Equity Program, Next will provide up to 90% equity up to $10 million for retail acquisitions.
“America is looked at as a stable business environment, and a whole bunch of foreign money is coming in,” Andrew Hochberg, founder and chief executive officer of Next Realty. This flood started in about 2013, and has greatly increased the competition for desirable properties.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
