
Berkadia’s Chicago Office Completes Trio of Apartment Sales
Berkadia recently completed $43.2-million in combined sales of three multifamily properties, including Wing Park Apartments, Parkside Apartments and Stone Ridge Square. Managing director Ralph DePasquale of Berkadia’s Chicago office led the sales team on behalf of their respective sellers.
“The sale of these assets demonstrates continued strong investor demand for Illinois properties,” said DePasquale. “We have sold thousands of units throughout the state over the last 36 months or so.”
Wing Park Apartments is a 184-unit garden-style multifamily property located at 6 Tivoli Place in Elgin, IL. The seller was a joint-venture between Trevian Capital and Crown Properties Inc., both based in New York. The buyer was Illinois-based Cunat, Inc.
Urbana Two Portfolio is comprised of 304-units across two properties, Parkside and Stone Ridge Square, located within a quarter mile of each other in Urbana, IL. The seller was Illinois-based BWCU, LLC, and the buyer was Loop Investments.
- ◦Sale