CHICAGO, IL – HFF announced today that it has closed the sale of Aspen Place Apartments (above centered photo), a 416-unit, value-add multi-housing community in Aurora, Illinois.
HFF marketed the property on behalf of Kensington Realty Advisors. A unit of Friedkin Realty Group (San Francisco) purchased the asset on a free and clear basis.
Aspen Place Apartments is located at 826 Terrace Lake Drive near the intersection of Eola Road and Ogden Avenue (US Route 34) in the western Chicago suburb of Aurora.
The 96 percent leased property has 50 residential buildings with one- and two-bedroom apartment homes and townhome units averaging 1,061 square feet each.
All homes have washer/dryers as well as fireplaces. Townhomes all feature direct access garages. Community amenities include an outdoor heated pool, business center, fitness center and clubhouse.
The HFF investment sales team representing Kensington Realty Advisors was led by managing director Marty O’Connell (top right photo), executive managing director Matthew Lawton (middle left photo) and managing director Sean Fogarty (lower right photo).
Kensington Realty Advisors is a real estate investment management firm based in Chicago. The company invests capital on a private direct basis on behalf of major pension funds, insurance companies and high net worth individuals. The firm specializes in in apartment, industrial, student and senior housing investments.
Friedkin Realty Group is a full-service real estate firm that provides in-house investment management, construction management and asset management services throughout the United States.
Contacts:
MARTY O’CONNELL
HFF Managing Director
(312) 528-3650
KRISTEN M. MURPHY
HFF Associate Director, Marketing
(713) 852-3500
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