CHICAGO, IL – HFF announced today that it has closed the sale of The Gates of Deer Grove (top left photo), a 204-unit, recently-renovated multi-housing community in the northwest Chicago suburb of Palatine.
HFF’s investment sales team marketed the property on behalf of the seller, Laramar Group. Home Properties of New York, Inc. purchased The Gates of Deer Grove free and clear of existing debt.
The Gates of Deer Grove is situated on 11.5 acres at 125 West Dundee Road close to DeerPark Town Center and the Palatine Metra Station in Palatine.
Renovated in 2008, the 94 percent occupied property has one- and two-bedroom units averaging 897 square feet each. Residents have access to a clubhouse with movie theatre, fitness center, game room and business center as well as a swimming pool, laundry facilities and a dog park. The HFF investment sales team representing Laramar Group was led by executive managing director Matthew Lawton (middle right photo) and managing directors Sean Fogarty (middle left photo) and Marty O’Connell (bottom right photo)
Laramar Group is a fully-integrated real estate investment and management company with 45,000 units under management. Since 1989, Laramar and its predecessor have invested in transactions throughout the United States representing total value in excess of $2.6 billion.
Home Properties is a multifamily real estate investment trust (REIT) with operations primarily along the East Coast of the United States that is traded on the New York Stock Exchange under the ticker symbol HME. The company owns, operates, develops, acquires, and rehabilitates apartment communities.
Contacts:
MATTHEW D. LAWTON
HFF Executive Managing Director
(312) 528-3650
KRISTEN M. MURPHY
HFF Associate Director, Marketing
(713) 852-3500
No comments:
Post a Comment