In 2013, 33 was approached by a West Coast-based hedge fund, Sabal, to take over this distressed luxury high rise in Chicago’s South Loop. The property was acquired by Sabal through a loan portfolio acquisition and was one of the many properties in the portfolio that Sabal had 33 operate.
In September of 2019, 33 was appointed by N. Neville Reid of Fox, Swibel in the SEC’s case alleging a Ponzi scheme against Northridge Holdings, Ltd, owner of a large residential and office portfolio across Chicago and the surrounding suburbs, to assume management, leasing, preservation and brokerage responsibilities for the portfolio.
In 2014, 33 was hired by the Bank of Hope, a West Coast bank to manage their entire portfolio of REO properties in the Chicagoland area. The properties were a mix of retail, office and warehouse and were inherited by the Bank of Hope when they acquired a variety of small local banks. 33 continues to manage the portfolio in 2021.
In September of 2020, 33 was approached to take the stalking horse position in this diversified workforce housing bankruptcy sale. The “Windy City Portfolio” was ultimately sold to a higher bidder, but 33’s involvement as the stalking horse was designed to demonstrate to the market that reliable operators were assigning significant value to the properties.