Michele Jarrell - Panelist Jarrell, Inc.
Michele Jarrell is associate partner with Jarrell, Inc., a family-owned real estate investment company incorporated in 1971. She joined the business in 2006, after a career as a commercial real estate relationship manager primarily focused on affordable housing project finance, including acquisition/rehab loans, mezzanine debt and equity investing.
At Jarrell, Inc., Michele wears several hats: property manager, predevelopment coordinator and project finance point of contact. As a property manager, she works mostly on the HUD and LIHTC portfolio with tenant compliance and inspections. For acquisition and rehab projects, she handles most predevelopment duties; leads deal sourcing; negotiates purchase contracts; creates budgets and scopes of work; generates bids; assembles financing packages; and oversees project management.
Jarrell, Inc., has a diversified portfolio of several hundred units including market-rate housing, affordable housing, subsidized housing and, most recently, a single-room occupancy (SRO) hotel. Financing ranges from traditional 80/20 bank debt, non-recourse agency debt, city of Chicago loans and grants, IHDA loans and tax credit equity. To date, the entire portfolio exists within the city of Chicago and its south suburbs, all within low- to moderate-income neighborhoods.
Michele is a graduate of Loyola University Chicago.