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Chicago & Midwest  + Greater Chicagoland  + Apartments  | 
NY Family Office Duo Acquire Big 662 Unit Multi-Family in Suburban Chicago

NY Family Office Duo Acquire Big 662 Unit Multifamily in Suburban Chicago

Beitel Group and The Scharf Group, both NY-based single-family offices, have added Preserve at Woodfield to their over $1-billion Midwest portfolio of properties, a 662-unit property in northwest suburban Rolling Meadows, right outside Chicago, the families announced.

The new owners say that their aim is to “upgrade and enhance the property and quality of life for our tenants. The amenities will include a new business center, state of the art fitness center, clubhouse, playground, Dog Park, leasing office, multi-sport courts, grilling stations, and parking lot.”

“The plan is to enhance the interior of the units as well, which includes new appliances, resurfaced counters, new cabinet doors, faux wood flooring, and upgraded lighting.”

The Beitel Group is a NY-based family office focused on the acquisition and development of multifamily and commercial properties nationwide while pursuing a value-add strategy. Beitel currently owns and operates a multifamily portfolio spanning nine states, consisting of 10,000+ units.

The Scharf Group is NY-based fourth generation family office; owner, developer, and operator of a large portfolio of commercial, multifamily, healthcare & senior housing properties nationwide.

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Beitel GroupThe Scharf Group

About Ted Jackson

A highly successful financial journalist, corporate financial writer and magazine entrepreneur with strong expertise in writing on fixed income and pass-through securities (ABS), finance and banking, the economy, economic developments, financial markets, investing and personal finance, the business of behavioral healthcare and more.

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