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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.
- ◦Sale/Acquisition
