EQT Exeter Acquires West Dundee Apartments from Developer
EQT Exeter’s U.S. Multifamily team recently acquired the 380-unit Reserve Randall Road in West Dundee, IL, in an off-market deal. EQT Exeter’s property management company, Redwood Residential, will manage the property.
Formerly called Seasons at Randall Road, the garden-style property is located in Chicago’s northwest suburbs at 400 Randall Rd. and comprises 19 two-story buildings. Reserve Randall Road totals 402,933 square feet and features studio, one-, two- and three-bedroom layouts.
“The high-quality construction and premium finishes at Reserve Randall Road, along with the property’s strong basis and stabilized occupancy align perfectly with our core-plus investment strategy,” said Bill McDougall, managing director, investments, EQT Exeter U.S. Multifamily.
The seller, Milwaukee-based Fiduciary Real Estate Development, developed the community in two phases. Phase I was completed in 2021 and consists of 300 units, while Phase II was delivered earlier this year with an additional 80 units.
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. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).