CBRE arranged the sale of Ashwood Place Apartments, a 60-unit ranch townhome community at 4209 Pond Willow Rd. in Naperville, IL. CBRE represented the seller, a regional private developer.
Ashwood Place Apartments was purchased by a national investment firm based in California for $18.55 million. CBRE’s Justin Ross and David Guenther represented seller S.R. Jacobson Development Corp.
Built in 2018, Ashwood Place Apartments presents private suburban single-story living to renters. S.R. Jacobson Development Corp. was one of the first to bring purpose-built townhome rental living to the Chicago suburbs.
“The property represents unique product in the market, and we were well-positioned to give it the proper exposure,” said Ross. “With an overwhelming amount of interest, investors were drawn to the strong market fundamentals in Naperville as well as the property performance and distinctive livability offered to tenants.”
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.
Email the Author
Reach over 250,000 Commercial Real Estate Professionals with Connect
Connect CRE reaches the top commercial real estate players nationwide and across all property types, offering you a variety of ways to showcase your team, your expertise and your brand to CRE decision makers.
The home for CRE news and everything you need to stay informed on deals, trends, and transactions, providing a platform to get your brand in front of your target audience.
Daily CRE Emails
Reaching over 150,000 inboxes across the nation every day, Connect’s Daily News emails provide advertising opportunities specific to your market.
Bi-Weekly Property Sector Emails
Focus your advertising on emails dedicated to your property sector and stay visible to current and potential clients.
Position your team as experts in your field with content created by Connect’s editorial team and published on Connect’s news emails. Showcase your intelligence and broaden your reach.