Property Type

CHICAGO — CBRE has arranged the sales of four multifamily properties totaling 1,033 units in metro Chicago for a combined $370 million. CBRE’s John Jaeger, Dan Cohen and Justin Puppi represented the seller in each transaction. Redwood Capital Group sold Dwell at Naperville, a 400-unit property in Naperville. An institutional advisor sold The Retreat, a 295-unit townhome property in Wheaton, to an East Coast-based pension fund advisor. An East Coast-based institutional pension fund sold The Bernardin, a 171-unit asset in Chicago. Lastly, The Opus Group purchased a development site in Downers Grove. Plans call for a 167-unit luxury apartment complex that is slated to open in early 2023. CBRE’s Pete Marino and John Parrett assisted in securing the joint venture equity capitalization for Opus.

PALATINE, ILL. — Turner Impact Capital has purchased The Clayson, a 448-unit apartment complex in Palatine formerly known as Village Park of Palatine, for an undisclosed price. A partnership between Origin Investments, Draper and Kramer and LEM Capital was the seller, which acquired the asset in December 2016 and embarked on a $9 million capital improvement program. The partnership upgraded the amenities, landscaping and common areas, and addressed deferred maintenance issues such as roof replacements, parking lot resurfacing and balcony replacements. Roughly half of the units were upgraded with new appliances, cabinets, countertops, flooring, carpeting and paint. The Clayson is spread across 15 buildings. Units range from 706 to 1,225 square feet. Marty O’Connell and Kevin Girard of JLL represented the sellers.