Saturday, March 9, 2013

HFF closes $101 million sale of and arranges $75 million financing for The Communities of Ascot Glen in Willowbrook, IL



The Communities of Ascot Glen, Willowbrook, IL
CHICAGO, IL – HFF announced today that it has closed the sale of and arranged financing for The Communities of Ascot Glen, a two-property multi-housing community totaling 712 units in Willowbrook, Illinois.

HFF marketed the properties on behalf of the seller, an institutional owner.  TGM Associates purchased the offering for $101 million. 

  In addition, HFF also secured a $75 million 10-year, 3.745 percent fixed-rate loan through M&T Realty Capital Corporation (FNMA).  Proceeds were used to acquire the property.

Matthew Lawton
The HFF investment sales team representing the seller was led by executive managing director Matthew Lawton, managing directors Marty O’Connell and Sean Fogarty and associate director Wickliffe Kirby.

                TGM Willowbrook Apartments, formerly known as The Communities of Ascot Glen, is located at 6060 Laurel Lane on Highway 83, 20 miles southwest from downtown Chicago.

 This 95 percent occupied property consists of a total of 712 units spread across 76 two-story buildings.  Some of the apartments were partially renovated in 2010, and the community features one- and two-bedroom floor plans averaging 847 square feet each.

Marty O'Connell
Community amenities include two spacious fitness centers, two clubhouses , three outdoor swimming pools, three tennis courts, sand volleyball court, game room, business center and dog walking trails. For additional information please visit www.tgmwillowbrook.com.

 HFF’s debt placement team representing the buyer was led by managing director Matthew Schoenfeldt and senior real estate analyst Jason Bond.

Sean Fogarty
Founded in 1991, TGM is an investment advisory firm with a focus on multifamily properties.  The firm acquires, manages and sells apartment properties throughout the United States.  Since its inception, TGM has invested in more than $1.8 billion in 117 multifamily residential properties throughout 28 states. 

Contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

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