CHICAGO—Redwood Capital Group, LLC, a Chicago-based multi-family investment platform, has decided to replace its network of third-party vendors with in-house property management and construction management functions led by industry veterans Bob Hanrahan and Brian Wening, respectively.
As reported in GlobeSt.com, Redwood focuses much of its work on suburban workforce housing, a somewhat unheralded part of the multifamily sector, but one with a lot of value-add opportunities that generate both solid returns and interest among investors.
The company recently closed two of these acquisitions totaling more than $101 million and encompassing 630 units. The properties, located in Westmont, IL and Raleigh, NC, were both acquired in June 2017. Headed by partners David Carlson and Mark Isaacson, Redwood owns and operates approximately 30 apartment properties totaling about 9,000 units valued at approximately $1.3 billion.
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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.
