Vencorp Development
Our Story
Vencorp Development is a multi-family office located in Chicago and Hamburg, Germany.
For over 30 years, our Chicago-based private investment company has invested primarily in mid-market commercial real estate.
While many of our holdings are located in the greater Chicago area and the Midwest, our strategy is to invest opportunistically across the United States and Europe.
We focus on long term partnerships with like-minded and entrepreneurial operating partners.
We acquire equity in projects with attractive growth prospects across a range of asset classes including multi-family, mixed use, student housing, public storage, industrial, office and shopping centers.
Investment Strategy
We seek to invest with general partners in value-add and off-market investments opportunities with outstanding risk adjusted returns.
We believe in patient capital and avoid misalignment and unfavorable fee structures. We favor long-term holds and are always interested in 1031 Exchange (TIC) as well as Qualified Opportunity Zone projects.
Our Preferences are:
- Value added
- Individual projects (not funds)
- Target Investor IRR: 15% plus preferably with early cash flow
- Passive role
- Minority ownership preferred (~ less than 50% of total equity)
- Partnering with experienced developers with specific focus (geographical area or some other strategic advantage)
We have developed strong relationships with bankers, lawyers, brokers, and accountants who provide introductions. Our approach is to refer business in return.
Portfolio
Suburban Apartment Buildings
a 250 unit multi-family high rise with mixed use retail space in a Chicago suburb--$50m
Self Storage
a factory building converted into a 900 unit self-storage facility in Evanston--$12m
Industrial Warehouse
a 490,000 square foot industrial warehouse in St. Louis--$20m
Children’s Learning Center
a construction of a child care center in Chicago sold as a triple net investment--$5m
Shopping Mall
a 95,000 square foot retail shopping center—$7m
Suburban Communities
a 356 unit unit de-converted garden apartment complex in Naperville - $70m
Gas Station
a 20 pump gas station leased to BP/Amoco on a triple net lease bases - $2M
Partners
