On July 11, 2020, Building AQuisition Partners United, LLC, a Regulation D 506 fund founded by Tosin Oduwole and focused on redeveloping urban areas, announced their currently available Phase 1 project, a $100,000,000 offering focused on acquiring and revitalizing roughly 400 commercial real estate assets in the Chicago, Illinois area.
This is currently the largest redevelopment endeavor that the city of Chicago has experienced in over three decades. The project is open to accredited investors only.
The fund’s focus is on buying “value-add” & stabilized assets with the aim to rapidly upgrade them into the next asset class through operational efficiencies that maximize monthly cashflow and net returns. Ultimately, the goal is the rebuilding of a community, making it a new haven for economic activity, employment, healthy food, and access to parks and recreation.
Building AQuisition Partners United, LLC also acquires partial interests in funds among many asset classes. They have the ability to offer liquidity to investors, and partner alongside fund managers internationally.
Although they typically seek mid-sized assets around 100-200 units, their ongoing focus is on multifamily and commercial assets upwards of 300+ units and retail.
The fund also hopes to collaborate with the Chicago Neighborhood Initiatives Program, through which they would be able to apply for tax credits, state/federal funding, and tax abatements to assist acquisitions and development.
Chicago Neighborhood Initiatives was formed in 2010 to coordinate resources, economic development and neighborhood revitalization efforts in Chicagoland’s low-to-moderate income neighborhoods. Chicago Neighborhood Initiatives says it seeks to revitalize neighborhoods and create jobs by assisting development in high impact projects, providing financial resources to entrepreneurs and sustaining long-term community partnerships.
Tosin Oduwole is an urban redeveloper who is working to bring back the economic vibrancy of several cities around the U.S. via the massive acquisition and development of low, mid, and high-rise apartment buildings and commercial real estate. Oduwole can be contacted directly at info@BAPUnited.com or +1-973-832-3036.