Skip to content
Homepage
  • Market
    • Illinois
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Michigan
    • Midwest
    • Minnesota
    • Missouri
    • N Dakota
    • National
    • Nebraska
    • Ohio
    • S Dakota
    • Tennessee
    • Texas
    • Wisconsin
  • Events
  • Sector
    • CRE
    • Education
    • Finance
    • Healthcare
    • Hospitality
    • Industrial
    • Legal
    • Multifamily
    • Net Lease
    • Office
    • Retail
    • section
    • Seniors Housing
    • Student Housing
  • Real Estate Awards
  • Subscribe
  • Publications
MidwestCRE

Equus sells downtown Chicago student housing for $58.5 million

Staff Writer April 5, 2017
Share on Facebook Share on Twitter Share on LinkedIn Share via email

Equus Capital Partners Ltd., formerly BPG Properties Ltd., has sold 2 E. 8th St., a 330-unit student housing facility in Chicago, for $58.5 million. The purchaser was a joint venture between Atlas Real Estate Partners, Marc Real Residential and Angelo, Gordon and Co.

Located in the heart of Chicago’s South Loop, the 28-story high rise facility is near Columbia College, Roosevelt University and more than 20 other schools. It offers 882 beds and includes 20,000 square feet of first floor retail and a four-story parking garage. At the time of sale, the property was 96 percent leased.

“The stability provided by the recently executed master lease for 60 percent of the beds with Columbia College resulted in strong investor interest for this unique and well located urban student housing community,” said Greg Curci, vice president at Equus who was responsible for overseeing the disposition.

The seller was represented by Chris Bancroft and Chris Epp of ARA Student Housing Group and Susan Lawson and Todd Stofflet of ARA Chicago.

An affiliate of Equus acquired 2 E. 8th St. as part of a three property portfolio in 2003. The transaction was made on behalf of BPG Investment Partnership Fund VI, L.P., a $384 private equity fund. In 2005, Equus completed the conversion of the property from a conventional high-rise apartment building to a student housing facility.

Tags
Student Housing
" "

Subscribe

Subscribe to our email list to read all news first.

Subscribe
Related Articles
TexasMultifamily

SPI Advisory enters New Braunfels submarket with 164-unit acquisition

September 28, 2023
IllinoisMultifamily

Kiser Group announces closing of historic Morgan Park property

September 28, 2023
IllinoisMultifamily

Marcus & Millichap arranges sale of 17-unit apartment building in Evergreen Park

September 28, 2023
IllinoisIndustrial

PREMIER Design + Build Group breaks ground in Chicagoland to expand manufacturing facility for Sumitomo Drive Technologies 

September 28, 2023

Subscribe

Subscribe to our email list to read all news first.

Subscribe
REJournals logo

Market

  • Illinois
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Michigan
  • Midwest
  • Minnesota
  • Missouri
  • N Dakota
  • National
  • Nebraska
  • Ohio
  • S Dakota
  • Tennessee
  • Texas
  • Wisconsin

Sector

  • CRE
  • Education
  • Finance
  • Healthcare
  • Hospitality
  • Industrial
  • Legal
  • Multifamily
  • Net Lease
  • Office
  • Retail
  • section
  • Seniors Housing
  • Student Housing

Subscribe

Subscribe to our email list to read all news first.

Subscribe
  • Contact Us
  • Events
  • Office Locations
  • Advertise
© 2023 REjournals.com