News
MOHAWK ASSET MANAGEMENT CORP. ANNOUNCES THE PURCHASE OF A VALUE-ADD INFILL FIVE BUILDING MEDICAL/PROFESSIONAL PLAZA IN CHICAGO (GLEN ELLYN), ILLINOIS
TORONTO, April 3, 2024 /CNW/ - Mohawk Asset Management Corp. ("Mohawk"), a Toronto-based alternative asset management firm specializing in healthcare real estate, announced today the formation of Mohawk Chicago (Roosevelt) Opportunity Partners (V) LP and its purchase of a five building mixed use medical/professional and industrial plaza.
The complex of five buildings between one and three stories includes 150,000 square feet and is located along the busy artery of Roosevelt Road in Glen Ellyn, DuPage County, a western suburb of Chicago.
The equity offering was placed by way of a brokered private placement led by Richardson Wealth Limited and supported by Canaccord Genuity Corp., Raymond James and Wellington-Altus.
The property was financed by an amortizing bank mortgage for a five-year term, as well as a revolving line of credit.
This acquisition represents a continuation of Mohawk's cross-border investment platform called 'Mohawk America' which invests in U.S. healthcare real estate with cash flow stability and growth potential, syndicated to Canadian and U.S. investors.
Mohawk Medical Management Corp. will bring its expertise in medical office building management to provide specialized professional management services to tenants and patients at the building.
Mohawk anticipates closing on another value-add property in New York State in Q2 2024.
SOURCE Mohawk Asset Management Corp.
For further information: please contact: Oleg Primack, Investment Associate, Mohawk Asset Management Corp., Phone: 416-532-2200