# Great Lakes Capital Management

Great Lakes Capital Management is an Asset Manager based in Granger, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Granger, United States
- **Region:** North America
- **Address:** 7410 Aspect Drive, Suite 100, Granger, IN 46530, United States
- **Founded:** 2005
- **Assets under management:** Undisclosed
- **Website:** www.greatlakescapital.com
- **LinkedIn:** https://www.linkedin.com/company/great-lakes-capital

## Regulatory record

- **Reports private funds:** No

## About

Based in South Bend, Indiana with additional offices in Ft. Wayne and Indianapolis, Great Lakes Capital is a Real Estate Development and Private Equity Firm that invests in several core property types including Multifamily, Industrial, Mixed-Use, Flex, Office, Medical and Life Science, and Hotels Properties.

## Sectors

- Real Estate
- Multifamily
- Industrial
- Mixed-Use
- Office
- Medical & Life Science
- Hospitality

## Offices

- Indianapolis, IN, United States
- Fort Wayne, IN, United States

## People

- Martin Huttenlocker — Development Manager

## Questions

### Who runs investment decisions at Great Lakes Capital?

The firm operates with seven principals who collectively bring nearly 170 years of commercial real estate experience. Martin Huttenlocker, Development Manager, provides direct strategic and analytical support on the development team. Final investment authority is distributed among the seven principals rather than concentrated in a single CIO.

### What investment structures does Great Lakes Capital use?

The firm operates a mix of vehicles: the open-end GLC Stabilized Income Fund I targeting current-coupon stabilized assets; the GLC Credit Opportunity Fund I investing in performing and non-performing debt; and multiple GLC Acquisitions closed-end funds focused on retail, multifamily, medical office, and hospital properties. It also pursues build-to-suit, joint-venture, restructure, and redevelopment partnerships outside of commingled funds.

### Where is Great Lakes Capital geographically concentrated?

The firm invests primarily across Indiana and the broader Midwest. Its three offices in Granger/South Bend, Indianapolis, and Fort Wayne serve as regional hubs for sourcing and managing development projects. Past projects like Wildhorse Hotel, Portage Prairie phases, Toscana, and Bloomington Health reflect a footprint anchored in Indiana markets.

### Does Great Lakes Capital co-invest alongside external partners?

Yes. The firm explicitly seeks build-to-suit, joint-venture, restructure, and redevelopment opportunities with partners, landowners, municipalities, and tenants. It structures its capital to align interests with partner-clients, often serving as the operating partner that handles development execution in-house while sharing economics with co-investors.

### What is the realized track record of Great Lakes Capital's funds?

One disclosed track record is GLC Acquisitions III, a medical office and hospital-focused closed-end fund that returned all partner capital with an IRR exceeding 80 percent while still in its value-creation stage. The firm has not disclosed performance data for its other vehicles on its website.

## Related profiles

- [Greater New York Hospital Association Ventures](https://altss.com/profile/greater-new-york-hospital-association-ventures)
- [Great River Financial](https://altss.com/profile/great-river-financial)

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Last updated: 2026-06-03T20:00:00.000Z

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