2 Chicago real estate firms purchase multifamily portfolio in Milwaukee for $16M

By Katherine Davis | Associate Editor | Chicago Business Journal Two Chicago real estate investment companies have acquired a multifamily property portfolio in Milwaukee for $16.2 million. Becovic and Next Realty purchased the 14-building, 232-unit portfolio from Wiegand Enterprises, which owned the portfolio for about 20 years. The properties are within a one-mile radius of • Read More »

Can You Influence Your Own Luck?

By Andrew Hochberg, Forbes Councils Member Forbes Real Estate Council   More than a decade ago, I concluded that the adage “location, location, location” was outdated — apologies to its presumed author, Lord Harold Samuel. In the aftermath of the Great Recession, I made the case that other factors, specifically liquidity and luck, had earned their rightful • Read More »

Can Your Credit Tenant Become Your Primary Risk?

By Andrew Hochberg, Forbes Councils Member Forbes Real Estate Council   Commercial real estate investors often employ a strategy to lower asset risk by leasing all or a significant portion of space to a strong credit tenant. Typically, that strategy contributes to predictable cash flow and enhanced property values for investors. In certain assets, that • Read More »

The Shift In Office Leasing Demand Requires Further Evolution, Innovation

The culmination of events that took place during and leading up to 2020 triggered the biggest shift in office leasing in U.S. history. The implications have led owners to re-evaluate their assets and occupiers to re-evaluate their office needs, with both looking for opportunities to bring innovation and flexibility into their space. This trend has • Read More »

Next Realty’s Multi-Solution™ Strategy Keeps Company Current

Next Realty believes investment philosophies should evolve and adapt to align with shifting markets, changing industries and maturing investor goals and objectives.  The company was established in 1998 to grow and manage investments in neighborhood retail centers. Over time, Next’s portfolio grew to include industrial, residential and redevelopment projects in targeted metropolitan markets. A constant strength of the firm has been the ability to acquire properties in strong locations and execute sound, quality business plans through hands-on property and asset management.    The principals of the firm began formulating and guiding the evolution of Next’s investment approach to • Read More »

Location, Liquidity, Luck: A Modern Precept in CRE

By Andy Hochberg These are interesting and challenging times in commercial real estate. Andy Hochberg of Next Realty shares how these three notions can lead to greater success. For decades, the age-old precept in commercial real estate has been based on location. To reinforce its importance on the viability of a property, the word was • Read More »

Meet One of Our Nextperts®

Jack Ramirez brings more than 30 years of financial and related experience to his role as Vice President of Finance at Next Realty. Throughout his career he has worked at some of the largest and most distinguished names in the commercial real estate industry, in Chicago and nationally. These firms, from the brokerage and development • Read More »

Next Realty Hosts VIP (Vegas-in-Place) Webinar to Connect After RECon Postponement

When ICSC cancelled its main convention, ICSC RECon, and Next Realty’s annual Las Vegas luncheon was also cancelled, the firm found a way to make the best of a disappointing situation. Along with other co-sponsors, Next Realty hosted a V.I.P. (Vegas-in-Place) Zoom webinar discussion during the regularly scheduled Las Vegas convention. The 60-minute session was • Read More »

Meet One of Our Nextperts®

Before starting Next Realty, Andy Hochberg held various executive level positions with Sportmart, a company Andy’s father, Larry Hochberg, and Sanford Cantor started in 1970. In the 1990s, Andy served in many roles at Sportmart, including CEO & CFO. During his tenure, the business expanded, the company went public and they completed the sale of the family’s interest in the business.   Upon the sale of the family’s interest in Sportmart, friends • Read More »

Real Estate Wins and Losses During COVID-19

The effects of the COVID pandemic have been unprecedented. Most notable are the personal stories of those who have been affected through illness, death, the loss of a job, or other catastrophic occurrences. The real estate industry and general business community have also experienced considerable impact. Among the industry’s biggest wins have been businesses related • Read More »