Midwest Industrial Funds (MIF) announced the promotion of Jack Horrigan to director of finance and the transition of Pat Schaner to director of development as the firm continues to grow their platform. Horrigan joined the firm in 2017 and worked in tandem with Schaner for the last several months on financings, acquisitions, dispositions as well as investor relations, operations and accounting functions.
“I have learned a lot over the last four years at MIF in various operations, finance, insurance and investor relations roles. Those roles are now in good hands with Jack for the future. I am excited for the opportunity to shift back to my roots and be more involved in the development and construction side of the business,” said Schaner.
Prior to joining MIF, he spent his career in corporate finance at GE Healthcare with experience in merger and acquisition financing and integration, financial planning, accounting, consulting and manufacturing finance for the medical imaging, software and biosciences business. Jack earned an MBA from the University of Chicago Booth School of Business and a bachelor’s degree from Boston College after attending Fenwick High School in Oak Park, Illinois.
In his new role, Schaner will be primarily responsible for helping to source, evaluate, close and manage the construction and leasing process on new development and special project opportunities. He has 23 years of experience in commercial real estate development, acquisitions, dispositions, leasing, financing, insurance, property management, accounting as well as financial and investor reporting.
Schaner previously worked for Opus North Corporation, Panattoni Development and Cushman & Wakefield/Northmarq. Throughout his tenure he has developed speculative properties and managed build‐to‐suit and tenant improvement projects for tenants such as CTS Industries, Conway Logistics, Fed Ex, Leggett and Platt, Sears Logistics, General Electric and Kimberly Clark. Schaner is a graduate of Michigan State University where he earned his BS in accounting.
“It is great to be so busy right now with several development projects at various stages of due diligence and construction. We have access to multiple capital sources between our current discretionary funds, larger private investors as well as institutional capital partners,” Schaner said. “We will be announcing some larger, marquee, Chicagoland infill and greenfield development projects very soon, and I am excited and thankful to be a part of the next phase of growth at MIF.”