Neil Ornoff Projects 200% ROI from Buyout of Co-founded SP&T Firm
Sibling Properties & Trust, real estate development and investment firm owned by real estate developer Neil Ornoff, is expecting to double its return on the investment from the buyout deal with Prudential Real Estate Investors and Lodging Capital Par
July 23, 2013 (Newswire.com) - Neil Ornoff, a real estate investor in Chicago, Illinois, is seeing a 200% return on the investment held by Sibling Properties & Trust. The acquisition is driven by a new joint venture between Prudential Real Estate Investors and Lodging Capital Partners.
Sibling Properties & Trust and the Ornoff Family Trust are composed of more than 50 different investments. As co-founder of SP&T, Neil Ornoff affirms his company has seen a tremendous return on equity during two generations of investing and development.
"Our investment strategy, especially in development and strategic investing in the real estate market, has proven to be an exceptionally profitable even during those years most firms were seeing a decline in profits," explains Ornoff.
The Prudential, LCP investment buyout will include the Four Seasons hotel in Austin, Texas. The luxurious 9-story building contains 291 guest rooms, including 28 suites overlooking Austin\'s Ladybird Lake. SP&T will exponentially benefit from the buyout of its position in this partnership.
Currently, Neil Ornoff is working with Charles and Harry Huzenis of JRG Capital Partners on multiple developments for the years 2013 and 2014.
A pillar in the real estate industry based in Chicago, Illinois, Neil Ornoff has had $100 million in successful property transactions since 2004. Sightings of Neil Ornoff with President Obama also abound, with Ornoff being a member of Presidential Finance Committee - of which he raised more than $300,000 for Obama's 2008 electoral campaigns.
Mr. Ornoff has also recently finalized the sale of multiple other properties:
Other SP&T investments include:
12 Acres in Lake View on Wrightwood Ct.
Rezoned industrial to residential
Pappa George/ Haymes Architects
20 Unit Luxury Condo Rentals on Kedzie (Kedzie Project)
Lower commercial space rented by Budget Car Rental
(Kedzie Project LLC)
8 Flat Building on North Park & Orleans
Other SP&T investment projects including 19 story office tower in downtown Chicago, industrial parks and multi-family developments. Ornoff has tremendous experience with municipalities on zoning changes and infrastructure improvements. Through this mechanism SP&T has provided enhanced value which benefits in the valuation of their properties.
Providing optimistic forecasts on the booming real estate market trends, Neil Ornoff is proudly rooting for his hometown of Chicago, IL. As the Windy City bounces back from the recent industry slump, Neil sees it as an emerging giant making its way to the elite commercial real estate list.
To find out more about the buyout of the Sibling Properties and Trust co-founded by Neil Ornoff, please visit http://neilornoff.com for information or check out the Neil Ornoff LinkedIn Profile for details.
Categories: Real Estate