Newmark has facilitated the sale of Ashford at Geneva, a 226-unit multifamily community in Geneva, Illinois.
Newmark Senior Managing Directors Susan Lawson, Liz Gagliardi and Chuck Johanns represented the seller, an investment entity controlled by Oak Residential Partners, in the sale to the buyer, an affiliate of Equus Capital Partners, Ltd. The property was approximately 97% occupied at the time of sale.
“Ashford at Geneva is a well-maintained asset in an exceptional location, supported by strong surrounding demographics and home values,” said Lawson. “The property’s existing performance and opportunity for targeted improvements made it an attractive investment, with the potential to further enhance the resident experience and long-term value.”
Following the acquisition, new ownership plans to implement a capital improvement program focused on apartment interiors, common areas and select exterior enhancements. Ashford at Geneva features one- and two-bedroom apartments averaging 962 square feet.
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The post Newmark Arranges Sale of 226-Unit Apartments in Chicago Suburbs appeared first on Connect CRE.
