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Redwood Capital Makes Apartment Buy in Aurora
Chicago-based Redwood Capital Group acquired Hunter’s Glen, a 320-unit, garden-style apartment community in Aurora, IL, for an undisclosed sum. The acquisition was made in a joint venture with an affiliate of Heitman.
Built in 1991, Hunter’s Glen consists of 16 residential buildings and has a clubhouse, dog park and 24-hour fitness center, among other amenities. Redwood plans to renovate the majority of the apartment homes and also will implement extensive upgrades to most of the common areas.
“We are proud that, despite the ongoing pandemic, Redwood has continued to complete portfolio-improving transactions,” said Bob Flannery, COO and EVP of Redwood Capital. “This is the second acquisition we have closed within the past 60 days, and we have grown our portfolio and our investor base throughout 2020. Getting a deal done in this environment and doing so with a new capital partner in Heitman is a real achievement.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
