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Illinois Apartment Complex Acquired for Nearly $111M

New York-based TGM acquired TGM Danada, formerly the Crossings at Danada, from Invesco Advisers for a reported $110.5 million. Invesco was believed to have paid $92.6 million for the property in 2014. It is the TGM’s fifth multifamily acquisition in the Chicagoland area.

TGM Danada is comprised of 27 residential buildings on 45 acres in Wheaton, IL. The property is within a few miles of the Interstate 88 East-West Tollway with access to major employers, retail and entertainment. It is 30 miles west of Chicago and near the Wheaton Metra station.

“We are pleased to expand our footprint in Chicagoland with the acquisition of TGM Danada. TGM is particularly attracted to this area because it is a high barrier to entry submarket with unparalleled accessibility to major employers, retailers, nationally ranked schools, key regional suburbs and downtown Chicago,” said TGM’s Zach Goldman.

John Jaeger and Dan Cohen of CBRE brokered the transaction.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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