R2 Companies & Concord Capital Partners Acquire Bankier Portfolio at University of Illinois

CHICAGO, Dec. 29, 2021 /PRNewswire/ -- R2 Companies and Concord Capital Partners are proud to announce the acquisition of the Bankier Portfolio at the University of Illinois. The portfolio that was amassed over 60 years by Leon Bankier and his family has been acquired by the Joint Venture in an off-market transaction.

The portfolio's assets are primarily located along Green Street in Champaign's "Campustown" subdistrict and include 35 properties, 580 residential units (1,323 beds), over 80,000 square feet of retail, and four assemblage sites prime for vertical development.

"Leon Bankier hand-picked each property in this portfolio during his long career as an investor," said Matt Garrison, CEO of R2 Companies. "This is the epitome of a generational investment opportunity. Anyone who attended U of I understand that Green Street is the center of campus, and that the location and scale of our assets is irreplaceable."

The University of Illinois Urbana-Champaign is a public land-grant research university in Illinois in the twin cities of Champaign and Urbana. It is the flagship institution of the University of Illinois system and was founded in 1867. Enrolling over 55,000 undergraduate and graduate students, the University of Illinois is one of the largest public universities by enrollment in the nation, and ranked as a Top #15 Public University with the #6 ranked Engineering program (U.S. News & World Report). Champaign was ranked a Top Ten College Town by Livability magazine.

"As we continue to expand our investment platform, the acquisition of the Bankier Portfolio represents a unique opportunity to acquire a large-scale, impeccably maintained student housing portfolio situated within close proximity of a 55,000 student, Big-10, University campus," said Reuben Robin, CEO of Concord Capital Partners. "The portfolio offers significant value-add potential and mark-to-market opportunity, given the Seller's recent renovation campaign, U of I students' return to campus, the ability to optimize operations through institutional-grade management implementations, and the various credit enhancement opportunities for the Green Street retail locations. We are pleased to once again partner with the R2 team given their presence in Illinois and strong ties to the University of Illinois."

This is the second acquisition between R2 Companies and Concord Capital Partners.

ABOUT R2 COMPANIES

R2 Companies is a fully integrated, private equity real estate firm with offices in Chicago, Austin, Nashville, Milwaukee & Minneapolis. R2's investments have generated impressive risk-adjusted returns having acquired over 50 properties since 2006, with an active portfolio of +$800M in AUM and 6.2 Million square feet. For additional information, visit R2.me.

ABOUT CONCORD PARTNERS

Concord Capital Partners is a Real Estate Investment and Development firm founded in 2003. CCP has acquired over $1 Billion in real estate including over 500,000+ sq. ft. of commercial space and over 6,500+ residential and student housing units throughout the United States. For additional information, visit concord-cp.com.

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SOURCE R2 Companies