Asset Sale Generates 16.38% IRR, 2.0x Equity Multiple
Breneman Capital is pleased to announce the successful disposition of 4016 N Bell in Chicago on April 28, 2023.
4016 N Bell generated deal-level returns over the 4.8-year hold of:
16.40% IRR
2.0x equity multiple
20.74% annual return
100% total return
Breneman Capital acquired 4016 N Bell directly from the owner with no competing offers in 2018. The success of this deal depended on Breneman Capital identifying an off-market opportunity and acquiring the asset at a price that allowed us to generate strong returns due to the extremely attractive basis relative to other sale comps in the area.
The transaction required Breneman Capital to assume the seller’s existing loan. This turned out to be the first of many loan assumptions to come for our firm.
The success of this deal highlights two of Breneman Capital’s core competencies: identifying attractive off-market opportunities in markets we know well & closing complex deals when other Buyers cannot.
Thank you to everyone involved.