CHICAGO — Behringer Harvard has acquired a Chicago apartment tower on behalf of its Behringer Harvard Multifamily REIT I. The community, known as Burnham Pointe, is located on the South Loop at 730 S. Clark St., in the historic Printers Row neighborhood. The 28-story high-rise was constructed in 2008. It contains 298 one- and two- bedroom residences above approximately 15,000 square feet of ground-floor retail space. The units range in size from 735 to 2,256 square feet. Amenities include a fitness center, a club room with a full-service kitchen, a business center and a spa. A landscaped terrace offers a sundeck, a rose garden and gas-fired grills. The tower also contains an adjacent, six-story parking garage.
“Burnham Pointe is a stabilized residential high-rise offering luxurious finishes and amenities in a desirable central Chicago location, said, Mark Alfieri, COO of Behringer Harvard Multifamily REIT I, in a statement. “We believe the community will benefit from its location in a submarket favored by educated, affluent renters that continues to demonstrate resilience in rental rates.”
With this most recent deal, the portfolio of Behringer Harvard Multifamily REIT I includes investments in 28 properties containing a total of 7,894 apartment units.
— Coleman Wood