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REDWOOD CAPITAL ACQUIRES 400-UNIT APARTMENT COMPLEX

WESTMONT, ILL. — Chicago-based Redwood Capital Partners has acquired the Fountains of Stone Crest, a 400-unit apartment complex located at One Fountainhead Drive in Westmont. The 17.35-acre multifamily community consists of 20 two-story buildings. Individual units average 971 square feet in size. Amenities include a 5,300-square-foot clubhouse with a fitness center, a heated outdoor swimming pool, on-site laundry and carports. Redwood purchased the community from Avalon Bay for an undisclosed price, and will retain the acquisition as a rental property.

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