JLL Capital Markets closed the $93.5-million sale of, and arranged $60.825 million in acquisition financing for, the Riverstone Apartments, an affordable housing community in the southwest suburb of Bolingbrook, IL.
The JLL Capital Markets team representing the seller was led by senior managing directors Doug Childers and Marty O’Connell and senior director Michael Fox. Financing was led by senior director Paul Smith and senior managing director CW Early.
JLL represented the seller, Jackson Square Properties, to complete the sale to Alliant Strategic Investments and Nuveen Real Estate. JLL also worked on behalf of Alliant and Nuveen to secure the acquisition financing through Freddie Mac.
Located at 308 Woodcreek Dr., the transit-oriented property has direct access to Downtown Chicago via I-55. It’s convenient to various employment hubs, including the 1,300-acre Argonne National Laboratory and a nearby 67.3-million-square-foot industrial/distribution center, and retail centers, including the 1.2-million-square-foot Promenade at Bolingbrook mall.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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