Author Archives: ipgocorp

Text of Dodd-Frank replacement bill released

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(RECAP: Last month, Republican Congressman Jeb Hensarling, who chairs the House Financial Services Committee, released a summary of “The Financial CHOICE Act,” a bill to replace the Dodd-Frank Act. The summary indicated the bill would include a series of CFPB reforms, including a change in the CFPB’s name to the “Consumer Financial Opportunity Commission,” replacement of the current single director with a bipartisan, five-member commission, funding of the commission through the appropriations process, repeal of the CFPB’s authority to prohibit consumer financial services or products it deems “abusive” and prohibit or impose conditions or limitations on the use of arbitration agreements.)

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Tax Credit Moneyball? What Evidence-Based Policymaking Could Mean for Tax Credits

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(RECAP: The data revolution that has changed business, health care and sports over the past few decades is coming to the federal government–and it brings the same potential benefits and hazards. Analytics–or data-driven choice-making–continued to make inroads into the federal realm March 30 when President Barack Obama signed H.R. 1831, the Evidence-Based Policymaking Commission Act of 2016. It is landmark legislation, but how it’s implemented will be even more significant. The thought is simple: Make a way to use data to measure the effectiveness of government programs. Take policy decisions from strictly an ideological realm to a fact-based, results-based one. Like all policy, the devil is in the details–and in this case, the details are significant, with major implications for the tax credit community.)

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Berkshire Group Acquires 292-Unit Luxury High-Rise Apartment Community in Chicago, Illinois

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CHICAGO, IL – Berkshire Group announced the buy of Eight O Five N. LaSalle in Chicago, Illinois, from Smithfield Properties. The 32-tale, 292-unit River North high-rise was designed by Berkelhamer Architects and completed in 2015.

Anchored by the Merchandise Mart and home to iconic architecture including Marina City and 330 N. Wabash designed by Mies van der Rohe, River North features high-end dining and retail as well as a vibrant night life scene. The neighborhood is within walking distance of the Loop and the financial district as well as Oak Street and Magnificent Mile shopping.

“It is not always simple to find a property with the quality and amenities of Eight O Five in such a desirable location,” noted Jack Dent, Managing Director, Portfolio Manager, Berkshire Group. “Demand in the River North area and the superior appointments of the property are ultimately why Eight O Five fits so well into our core investment strategy.”

Eight O Five is located near train and bus lines and features a rooftop outdoor pool and sundeck, parking and bicycle storage, and an outdoor dog run. Apartments feature floor-to-ceiling windows, spacious balconies and terraces, and high capacity internet connections.

Berkshire Group is a real estate investment management company primarily known for its multifamily investment and operational experience. In addition to deploying capital through equity, debt and development in the multifamily arena, Berkshire invests in opportunistic ventures in other real estate sectors through its Venture Investments group.

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