REBusinessOnline

Waterton Acquires Alta Roosevelt Apartments in Chicago for $170M

Waterton will rebrand the 496-unit property as The Elle. (Image courtesy of Waterton)

CHICAGO — Waterton has acquired Alta Roosevelt Apartments in Chicago’s South Loop. Atlanta-based Wood Partners sold the property for $170 million, according to Crain’s Chicago Business. Located at 801 S. Financial Place and built in 2017, Alta Roosevelt features 496 units. Amenities include 50,000 square feet of common area space, which features an outdoor pool and spa, outdoor lounge with grilling stations and TVs, a dog park, bike room, package room, game room with bowling lanes, fitness center, yoga studio and entertainment kitchen. The property also includes a four-story parking garage.

Waterton plans to rebrand the asset as The Elle, a nod to both Eleanor Roosevelt and Chicago’s elevated train station known as the “L.” Waterton will also make upgrades to the amenities.

Danny Kaufman, Trent Niederberger, Lucas Borges and Mike Halbach of JLL arranged $99.5 million in acquisition financing on behalf of Waterton. The Freddie Mac loan features a seven-year term and a fixed interest rate.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter
Conferences


Webinars on Demand


Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties