Our CEO and President James McClelland believes that at the heart of every successful real estate investment is a great tenant. So when Forbes recently wrote an article about finding great tenants they came to MACK Companies for answers.
Archive for Industry News
Bloomberg Speaks With Eric Workman Regarding Rising Foreclosures
Bloomberg reported today that home repossessions in the U.S. jumped by 11% in May after declining for the previous five months as rising prices and limited inventory for sale across the country spurred banks to complete foreclosures. Banks are more more willing to move to the final stage of foreclosure because there is sufficient demand and prices are improving.
Eric Workman Published In Northern Illinois Real Estate Magazine
Eric Workman, Vice President of Sales and Marketing for MACK Companies was recently published in the current issue of Northern Illinois Real Estate Magazine. In an article titled “Bringing Value Back To Chicago’s South Suburbs,” Eric discusses the growing demand for Single-Family Rentals. MACK currently operates more than 700 single-family rental homes in Chicago’s south suburbs and have a waiting list of more than three months.
MACK Companies Buys Unfinished Fay’s Point Housing Development
Both The Chicago Tribune and The SouthTown Star recently reported that MACK Companies bought the Fay’s Point Housing development project in Blue Island, Illinois. The development was purchased for $1.5 million and 27-acre site is situated comfortably between the Little Calumet River and the Calumet Sag Channel. MACK will start work in the third quarter on eight of forty-four additional lots. The deal also includes developable land that could accommodate up to 236 housing units.
MACK Congratulates ARP Inc. On Their Initial Public Offering!
MACK Companies would like to congratulate our partners at American Residential Properties (ARPI) on raising $287.7 million in an initial public offering. ARP sold 13.7 million shares at $21 each and told Bloomberg that the proceeds from the offering will be used to grow its business in the single-family home rental market.
James “MACK” McClelland A Panelist At CBRE’s Multi-Housing Conference
MACK Companies President and CEO, James McClelland was a Panelist at Commercial Real Estate Services’ Multi Housing conference where he gave the single-family operators stance on the investment values, operating platforms and the asset class’ impact on the valuation of the multifamily sector.
MACK VP of Sales and Marketing attends Single-family Investment Forum
Eric Workman, Vice President of Sales and Marketing for MACK Companies will be participating as a guest speaker at the Information Management Network’s Single Family Aggregation Forum in beautiful Miami, Florida next week.
MACK Companies Featured in Fox Business News Segment
MACK Companies’ VP of Sales and Marketing, Eric Workman, was interviewed on Fox Business News yesterday regarding single-family rentals in the Chicago-land area. This report by Fox comes in the light of increased interest in MACK’s business model as well as MACK Companies. Mr. Workman also spoke about the area’s economic diversity and a more fragmented housing supply that differs in many ways across the landscape.
MACK Companies: Chicago Still Compares Favorably To Other Cities
Chicago Real Estate Daily just released an article today which speaks about how Chicago may not be the most profitable place to buy and rent single-family homes but it is nothing to sneeze at. In fact the Chicago-land area fares well against most other large metropolitan areas. On the average a cash buyer of a three-bedroom home in the Chicago area receives a 7.2 percent initial yield according to RealtyTrac Inc. While the price increases have begun here just as they did in California and elsewhere, the yields haven’t dropped as much.
MACK Continues To Make Headlines With A Record Deal
MACK Companies has recently been featured on Chicago Real Estate Daily and in this month’s issue of Personal Real Estate Investor Magazine. The article is titled “Wall Street Needs You? Single-Family Homes Mature As An Asset Class” and speaks to the maturation of the single-family asset class. MACK’s portfolio sale to American Residential, worth $28 million, is proof. That deal “signifies a validation of the fact that we have an asset class here that is becoming more institutionalized,” said Eric Workman, Vice President of Sales and Marketing for MACK.