R2 Companies and Concord Capital Partners have acquired the Bankier Portfolio and the University of Illinois. This is the second acquisition made by R2 and Concord Capital.
The portfolio has been amassed over 60 years by Leon Bankier and his family. The portfolio’s assets are located primarily on Green Street in Champaign’s Campustown district. It contains 35 properties, 580 residential units, 80,000 square feet of retail and four assemblage sites.
“Leon Bankier hand-picked each property in this portfolio during his long career as an investor,” commented Matt Garrison, CEO of R2 Companies. “This is the epitome of a generational investment opportunity. Anyone who attended U of I understand that Green Street is the center of campus, and that the location and scale of our assets is irreplaceable.”
“As we continue to expand our investment platform, the acquisition of the Bankier Portfolio represents a unique opportunity to acquire a large-scale, impeccably maintained student housing portfolio situated within close proximity of a 55,000 student, Big-10, University campus,” stated Reuben Robin, CEO of Concord Capital Partners.