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Origin Investments JV Trades Naperville Multifamily After Nine-Year Hold
Origin Investments and joint venture partner Randolph Street Realty Capital completed the sale of One Nineteen on Main, a 49-unit multifamily asset with ground floor retail space in downtown Naperville, IL, after a nine-year hold. The property sold to a private investor for $23.3 million.
This transaction occurred as Origin completed the sale of The Clayson, a 448-unit multifamily asset in Palatine, IL to Turner Impact Capital. Origin’s partners in that investment were Draper and Kramer and LEM Capital.
“This investment is a true demonstration of buying an exceptionally well-located asset and executing a strategic business plan to realize a long-term vision and substantial returns,” said Ken Lodge, Origin Investments. “Contributing to our ability to significantly enhance the value of the asset was our ability to leverage the property’s position as one of the only true multifamily projects in a vibrant suburban downtown market like Naperville.”
- ◦Sale/Acquisition
