Triad Real Estate Partners have brought to market two large Class A multifamily and student housing properties in Central Illinois. The total value of these assets is over $62 million offering the largest downstate apartment investment opportunity in years.
The first property, called Prairie Vista Apartments, is located in Peoria, IL. This apartment project was completed in 2008 and consists of 304 units along with a full amenity package. It also includes a very attractive HUD Loan that can be assumed that has a 4.15% interest rate and 35 year amortization.
The second property, known as Uptown Crossing, is a mixed-use student housing property located directly across the street from the Illinois State University Campus in Normal, IL. Boasting the best location in the market, this asset is 100% leased with 210 beds of student housing and 56,000 square feet of commercial.
The commercial space is anchored by CVS and ISU, all on NNN leases.
