In The News | Hyperlocal option: Why cre investors still need local experts

Patrick Kennelly

Interra’s Pat Kennelly: “Even in an era of global buying and selling, online listings, and new tools that use big data and artificial intelligence to identify investment opportunities, real estate remains a relationship-driven industry that relies on boots-on-the-ground expertise. As a broker specializing in multifamily transactions, I do about 90 percent of my business in the Chicago suburbs with a focus on west, northwest and northern suburbs such as Oak Park, Rolling Meadows and Evanston. Today, a growing number of my buyer clients are from coastal markets — New York, Los Angeles and San Francisco, to name a few — because they can get a higher return on their investment, often through value-add renovations. We’ve even seen some international investors as they view the United States as a safer place to invest their capital and diversify their portfolio, usually through larger properties that offer enough economy of scale to justify on-site management.”

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