Joint venture purchases Carol Stream apartment complex May 10, 2021
Golub & Company and Petiole Asset Management have announced a joint venture acquisition of Lakehaven Apartments in Carol Stream, IL, marking the first residential joint venture between the two firms and the third overall. The acquisition closed on April 29, 2021. Golub & Company will provide property management and leasing services effective immediately.
Lakehaven Apartments, located at 732 Bluff Street in Carol Stream, DuPage County, IL, was constructed in 1984 and is the newest apartment community in this mature suburban township. The property, while close to major employers and highways, also benefits from its pastoral setting surrounded by 100 acres of park land and lakes. The 492 apartment homes are spread across 41 buildings and feature a mix of 1-, 2-, and 3-bedroom layouts ranging in size from 700 to 1,100 square feet with an average unit size of 868 square feet. Amenities incl
CHICAGO, IL - JLL Capital Markets announced today it has closed the $93.5 million sale and arranged a $60.825 million acquisition financing for the Riverstone Apartments, an affordable housing community located in Bolingbrook, Illinois, a southwest Chicago suburb.
JLL represented the seller, Jackson Square Properties, to complete the sale to the buyers, Alliant Strategic Investments and Nuveen Real Estate. JLL also worked on behalf of Alliant Strategic Investments and Nuveen to secure the acquisition financing through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender. The Buyer will maintain the affordability requirements on all units through 2036.
Golub, Petiole Acquire Illinois Community
The joint venture will carry out cosmetic improvements to the 492-unit property in Carol Stream. May072021 Image courtesy of Golub & Co.
Golub & Co. and Petiole Asset Management have partnered for a third time, acquiring a 492-unit community in Carol Stream, Ill. The joint venture purchased the property from Lakehaven Apartments LLC for an undisclosed price.
Located at 732 Bluff St., Lakehaven Apartments is more than 95 percent occupied, Adam Short, Golub & Co.’s senior vice president of acquisitions told
Multi-Housing News. The units are spread across 41 buildings and come in one-, two- and three-bedroom floorplans that range in size from 700 to 1,110 square feet with an average of 868 square feet. The community’s amenities include a clubhouse, pool, fitness room and dog park.
Golub & Company And Petiole Asset Management Announce Acquisition Of Lakehaven Apartments In Carol Stream, IL
492-Unit, Garden-Style Apartment Community Features Resort-Style Amenities
News provided by
Share this article
Share this article
CHICAGO, May 6, 2021 /PRNewswire/ Golub & Company and Petiole Asset Management have announced a joint venture acquisition of Lakehaven Apartments in Carol Stream, IL, marking the first residential joint venture between the two firms and the third overall. The acquisition closed on April 29, 2021. Golub & Company will provide property management and leasing services effective immediately.
Golub & Company and Petiole Asset Management have announced a joint venture acquisition of Lakehaven Apartments in Carol Stream, IL, marking the first residential joint venture between the two firms. Lakehaven Apartments, located at 732 Bluff Street in Carol Stream, DuPage County, IL, was constructed in 1984 and is the newest apartment community in this
JLL brokers sale of affordable housing development in Bolingbrook May 5, 2021
JLL Capital Markets announced today it has closed the $93.5 million sale and arranged a $60.825 million acquisition financing for the Riverstone Apartments, an affordable housing community located in Bolingbrook, Illinois, a southwest Chicago suburb.
JLL represented the seller, Jackson Square Properties, to complete the sale to the buyers, Alliant Strategic Investments and Nuveen Real Estate. JLL also worked on behalf of Alliant Strategic Investments and Nuveen to secure the acquisition financing through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender. The Buyer will maintain the affordability requirements on all units through 2036.