Strategies
Platform overview
Fengate’s new Social Opportunities strategy benefits from a 40+ year partnership with the labour community, aiming to deliver attractive risk‑adjusted returns while generating meaningful, measurable outcomes for workers and their communities.
Investments will be substantially union-built, with signatory contractors leading execution in high-density regions. In low-density regions, Fengate will aim to expand union market share and create skilled labour opportunities.
Investment strategy
Target gross IRR
Target Net IRR
Target gross MOIC
Target Net MOIC
Sector allocation
Geographical allocation
Development vs value-add
Single asset investment size: $25M to $75M
Investment spotlight
Project summary
Fengate’s West Loop Multifamily Housing Development is a shovel-ready, 380-unit residential project in one of Chicago’s most dynamic urban nodes. Located between Fulton Market, the Chicago Loop and the Illinois Medical District, the 25-storey development is positioned near major employment centres, transit connections and established retail, dining and entertainment amenities. The project will include 76 affordable units, representing 20% of total homes, and will be anchored by more than 21,500 square feet of international grocery retail.
The investment is supported by favourable market fundamentals, including limited new downtown supply, strong absorption and continued year-over-year rent growth. With construction expected to begin in H2 2026, the development also aligns with Fengate’s responsible investment objectives through a union-built execution strategy. Led by signatory general contractor Skender, the project is forecast to generate approximately 740,000 union construction labour hours and $69 million in income for Chicago’s union construction workforce between 2026 and 2028*.
*All economic and fiscal impacts are based on detailed project expenditures provided by Fengate and were measured by Pinnacle Economics using an IMPLAN input-output model of Illinois. Direct “hard cost” impacts are based on project spending on union construction services and include Output (spending), Labor Income (wages and benefits), Jobs (person-years of employment) and Hours of Work. The direct union impacts were tailored specifically for Chicago by using prevailing wage and benefits data for journey and apprentice construction trades for Cook County, IL, collected by Pinnacle Economics in June 2026. All economic and fiscal impacts are reported in 2026 dollars.
Platform highlights
North American, mid-market focus
Investing locally to create jobs and strengthen communities.
Union labour driven
Designed to maximize union labour workforce participation.
Real estate and infrastructure development expertise
Enhanced network and execution capabilities through integrated approach.
In-house asset management
20+ professionals dedicated to creating value and managing risk.
Alignment with investors’ responsible investment objectives
Focus on delivering positive social value.