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The 124,000 square foot portfolio is fully occupied by the Elkhart Clinic.
The 40,792 square foot industrial building traded for a record price, according to JLL.
The investor holds particular ire for their external manager AR Global Management.
John Forrester is retiring as CEO after a 35-year tenure.
Retail operations account for the majority of the project's NOI.
The new endeavor is starting out with approximately $250 million in capital.
The fund aims acquire affordable apartments serving residents making 80% or less of the area median income.
The three separate transactions total $53.55 million.
The three properties bring 179 units of affordable housing to the area.
The company has taken ownership of the Hotel Felix in Chicago and YOTEL in San Francisco.