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Newcastle Limited to Invest $500 Million in Chicago Area Real Estate.

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December 6, 2006
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CHICAGO – Newcastle Limited today announced the formation of a $500 million investment platform focused on strategic real estate investment in the Chicago area, said Michael R. Haney, President and CEO of Newcastle Limited, a Chicago-based real estate advisor and developer.Newcastle’s capital comes from institutional and private investors.  The firm’s investment efforts will focus on the City of Chicago and downtown areas of Chicago suburbs.  The firm will target most types of commercial property, as well as multi-family residential assets, and will seek stabilized or challenged properties, as well as new development opportunities.  Most investments will range from $5 million to $50 million.  “This investment initiative builds on our track record of creating value for our clients,” said Mr. Haney, President and CEO of Newcastle Limited.  “The magnitude of the platform reinforces Newcastle’s commitment to Chicago.”Newcastle’s decision to raise institutional capital for unspecified transactions was driven by its desire to move decisively when presented with attractive investment opportunities.  “As an entrepreneurial investor with institutional backing, Newcastle can deploy large amounts of capital quickly,” said Haney.  “Our financial wherewithal and ready capital will give us the speed and credibility we need to become a preferred buyer in the urban market.”Newcastle’s relationships with institutional investors stem from the firm’s track record of creating value for many of Chicago’s leading institutions.  Newcastle clients include Loyola, DePaul and Roosevelt Universities, The Art Institute of Chicago, The YMCA of Metropolitan Chicago, Easter Seals Metropolitan Chicago and many others.  Recent accomplishments include the sale of Barat College in Lake Forest, IL on behalf of DePaul University, the formation of the Sheridan/Devon Tax Increment Financing District in Chicago’s Rogers Park neighborhood on behalf of Loyola University, and the development of a new school and research center for autistic children on behalf of Easter Seals.

About Newcastle Limited

Chicago-based Newcastle Limited provides real estate advisory and development services to institutions, corporations and investors. Newcastle helps clients maximize investment returns and reduce project risk. More information is available at www.newcastlelimited.com.