Value-add apartment and townhome asset in DuPage County sells to active Chicago investor
JLL Capital Markets closed the sale of garden-style Oak Brook Heights
CHICAGO – Oct. 21, 2021 – JLL Capital Markets announced that it has closed the sale of Oak Brook Heights, a 408-unit, garden-style multi-housing community on the border of Westmont and Oak Brook, in West Suburban Chicago, Illinois.
JLL marketed the property on behalf of the seller, Investcorp, a leading global provider and manager of alternative investment products. FPA Multifamily acquired the asset.
Oak Brook Heights comprises one-bedroom apartments and two- and three-bedroom townhomes averaging 990 square feet. Units feature balconies/patios, in-unit washer and dryers and large walk-in closets. The community offers a resort style-pool, soccer field, grill and picnic area, tennis court and fitness center.
Located at 201 West Oakley Dr., the property is situated nearby Ogden Avenue, Butterfield Road and Interstates 294, 88 and 355 offering access to Chicago’s international airports, CBD and surrounding suburbs’ area amenities. Only a 10-minute drive from Oak Brook Heights is one of Chicagoland’s most prestigious shopping centers, Oak Brook Center, the largest outdoor mall in the country. Also, within a 10-minute drive from the community, Yorktown Center provides the ultimate area amenity for top retail, dining and entertainment options.
The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Senior Managing Director Marty O’Connell, Senior Director Kevin Girard, Senior Managing Director Matt Kafka and Executive Managing Director Matthew Lawton.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Investcorp is a global investment manager, specializing in alternative investments across private equity, real estate, credit, absolute return strategies, GP stakes and infrastructure. Since their inception in 1982,they have focused on generating attractive returns for their clients while creating long-term value in our investee companies and for our shareholders as a prudent and responsible investor.
They invest a meaningful portion of their own capital in products they offer to their clients, ensuring that their interests are aligned with their stakeholders, including the communities that they operate within, towards driving sustainable value creation. They take pride in partnering with their clients to deliver tailored solutions for their needs, utilizing a disciplined investment process, employing world-class talent and combining the resources of a global institution with an innovative, entrepreneurial approach.
Investcorp has today presence in 12 countries across the US, Europe, GCC and Asia, including India, China and Singapore. As of June 30, 2021, Investcorp Group had US $37.6 billion in total AUM, including assets managed by third party managers, and employed approximately 430 people from 45 nationalities globally across its offices. For further information, visit http://www.investcorp.com and follow us @Investcorp on LinkedIn, Twitter and Instagram.
About FPA Multifamily
FPA Multifamily, LLC is a real estate operating company focused on the acquisition, renovation and management of both core plus and work force housing apartment communities. Founded in 1985, FPA has owned over 130,000 apartment units valued at over $16.4 billion. FPA is currently investing through its value-add focused FPA Apartment Opportunity Fund VII which will acquire approximately $3.0 billion of assets and its core-plus focused FPA Core Plus Fund V which will acquire approximately $1.9 billion of assets. Headquartered in San Francisco, FPA also has offices in Atlanta, Chicago, Dallas, Denver, Irvine, Minneapolis, and Washington DC. For more information, please visit www.fpamf.com.