The Federal Housing Finance Agency (FHFA) has announced that The Cogsville Group LLC has purchased 94 Fannie Mae properties in Chicago as part of a real estate owned (REO) pilot initiative. All properties were sold near or above market value.
The Cogsville Group is the second buyer of REO properties under the FHFA's new initiative. The regulator recently announced that Pacifica Companies LLC had purchased 699 Fannie Mae properties in Florida.
The Cogsville Group is a New York-based private equity real estate investment firm focused on distressed real estate transactions. According to the company's website, its Cogsville Capital Partners Fund I has invested in $3 billion of distressed commercial and residential real estate, representing over 4,000 assets in 49 states.