MACK Companies

Forbes Asks How To Find Dream Tenants And MACK Answers

mackcompanies — Thu, 13 Jun 2013 19:37:25 +0000

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. Forbes covers all the bases here including: creative property marketing, the importance of due diligence and looking beyond the money. Mr. McClelland told the Wall Street Journal’s MarketWatch in October of last year, “The essence of an investment in real estate is a good tenant. A good tenant in a bad location is better than a bad tenant in a good location.”

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Bloomberg Speaks With Eric Workman Regarding Rising Foreclosures

mackcompanies — Thu, 13 Jun 2013 18:52:25 +0000

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. Bloomberg’s Dan Levy and Heather Perlberg spoke with MACK’s VP of Sales and Marketing Eric Workman and he had this to say, “For a very long period of time, the market in general and specifically banks were unsure of what these assets were valued at. With increasing stability of the economy and housing prices throughout the U.S., these banks and sellers are getting much more comfortable with the value of their properties.”

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Eric Workman Published In Northern Illinois Real Estate Magazine

mackcompanies — Wed, 29 May 2013 21:28:38 +0000

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.

Eric goes on to explain how MACK Companies allows hardworking residents the opportunity to raise their quality of life by occupying single- family homes in good neighborhoods while at the same time improving communities through redevelopment. Read more about why our unique housing market has been ideal for single-family rental providers.

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MACK Companies Gives Back Via The Chicago Tough Mudder Run

mackcompanies — Thu, 23 May 2013 17:25:58 +0000

A group of us here have decided to run the Tough Mudder Chicago Race this year. At first it was a fun event to train for and for each of us to say we accomplished it, but recently we decided to make it count. Luis Santiago was a two tour veteran of the Iraqi and Afghani wars, husband, father, friend and the cousin of two of our team members. Unfortunately Luis passed late last year, leaving behind his beautiful 4 year old daughter, Nevaeh. Our team has dedicated the running and finishing of this race to the memory of an American hero and are raising money for the care of Nevaeh. Any little bit helps in an effort to give back to someone who gave all.

Thank you and God Bless!

If you would like to contribute to the cause, Click Here

MACK Companies Buys Unfinished Fay’s Point Housing Development

mackcompanies — Wed, 22 May 2013 19:54:08 +0000

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.

Eric Workman, Mack Cos.’ vice president of sales, said the company is not shifting its attention from its bread and butter. Rather, it is looking to broaden its reach. Last year, the company formed a separate business, Mack Estates, to specialize in for-sale homes to consumers.

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MACK Congratulates ARP Inc. On Their Initial Public Offering!

mackcompanies — Fri, 10 May 2013 14:14:25 +0000

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.

The Chicago Tribune ran a story yesterday speaking about the IPO and of how ARP gained a significant presence in the Chicago-land housing market. ARP did so by acquiring more than 300 homes from MACK. The article continues to talk about companies such as ARP who in the past two years have sought out partners like ourselves in order to create a new investment asset class. Yet another sign of continued growth in our industry.

Read The Article Here

We are fortunate to have partnered with such a fine company and we send our many congratulations! Other media coverage is listed below:

Wall Street Journal

MarketWatch

Bloomberg

Reuters

James “MACK” McClelland A Panelist At CBRE’s Multi-Housing Conference

mackcompanies — Fri, 19 Apr 2013 18:14:44 +0000

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.

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MACK VP of Sales and Marketing attends Single-family Investment Forum

mackcompanies — Thu, 18 Apr 2013 16:45:49 +0000

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.

The Forum will discuss the very latest strategies and management intricacies of Institutional-level and private equity investments in single-family houses as well as how banks, home builders and other owners are dealing with their portfolio of foreclosed and vacant properties.

Please Click Here to Review The Agenda

Please Click Here to Lisen to Audio (Click on 3:20A – ROI Measurement, Cash Flows, Rental Streams, Price Appreciation: Evaluating the Key Financial Models & Metrics)

MACK Companies Featured in Fox Business News Segment

mackcompanies — Tue, 16 Apr 2013 18:52:46 +0000

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’s portfolio sale to American Residential, worth $28 million, is further proof that single-family homes are indeed now considered an asset class. Just as we have said before we here at MACK Companies truly believe that single-family homes are not a flash in the pan. We are confident that the big players aren’t going to walk away from this asset class after concluding their deals within three to five years. Please watch the video clip below and if you have any questions feel free to post them here.

MACK Companies: Chicago Still Compares Favorably To Other Cities

mackcompanies — Thu, 11 Apr 2013 19:01:07 +0000

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.

The article was quick to state that Chicago still compares favorably to other large cities, with a higher cap rate than all but three of the top 10 biggest housing markets: Atlanta, Houston and Miami, according to RealtyTrac Inc. One reason Chicago may not be at the top of the list is the fact that Chicago has a much more “fragmented” housing supply where the age and style of the buildings as well as renter demographics differ across the landscape. MACK Companies’ President and CEO James McClelland had this to say, “It’s difficult to be scalable in Chicago unless you create the scale. People think they correlate real estate with wealth; they think they’re going to get into real estate and get rich. This is a single at best; it’s not a home run.”

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