INVESTMENTS
Neighborhood Residential
Pioneer was early to identify opportunities arising from the steep decline in interest rates following the financial crisis. We recognized that re-pricing of stable real estate assets such as multifamily would be a lagging consequence and were able to quickly acquire a large portfolio of neighborhood residential ahead of much of the pricing movement. By significantly increasing income through property improvements, we were able to refinance and return investors’ capital while continuing to provide distributions indefinitely.
Student Housing
Pioneer Acquired a portfolio of approximately 1,300 units from the University of Chicago through several transactions totaling $175MM. By investing in unit and common-area renovations across the 35 properties, we were able to reposition the portfolio and achieve significantly higher rents. Pioneer built an organization of approximately 40 professionals to manage the portfolio locally under the brand Ivy Residences.
Commercial
Over the previous 15 years, Pioneer has acquired and repositioned dozens of retail, office and other commercial properties across the Midwest and East Coast. We have been able to add value by re-tenanting, re-capitalizing and through other opportunistic strategies.
Distressed Debt
Following the financial crisis, Pioneer was able to identify and acquire a significant portfolio of distressed debt across the multifamily and commercial sectors. Whether through workout or the foreclosure process, Pioneer came to own the underlying real estate in most cases and was able to deliver significant profits to our investors through refinancing or sales.
Event Space / Hospitality
We have a knack for uncovering value in overlooked places. For example, Pioneer was able to create one of Chicago’s premier events and wedding venues from a long dormant space in one of our multifamily properties. The venue includes a new rooftop deck with sweeping views of downtown Chicago and Lake Michigan.
