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JLL Closes Deal for Barrington Apartments
JLL Capital Markets closed the $20.75-million sale of 101 West, a trophy apartment community located in Barrington, IL. The firm worked on behalf of Monroe Residential Partners, LLC, to complete the sale to HP Ventures Group, LLC.
The JLL Capital Markets team representing the seller was led by senior managing director Marty O’Connell, senior director David Gaines, and director Kyle Butler.
“We continue to see pent-up capital, both private and institutional, earmarked for advantageously located suburban luxury multi-housing assets with easy access to commuter train lines and highways and located in affluent markets with strong demographics,” said Butler. “Investor groups like HP Ventures deploy a ‘hands-on’ approach, managing all of their own properties themselves which allows for the opportunity to obtain high quality boutique investments like 101 West.”
101 West totals 62,818 rentable square feet and consists of 64 one- and two-bedroom units, averaging 982 square feet.
- ◦Sale/Acquisition
