Chicago-based Golub & Company, in a partnership with Boston-based Alcion Ventures, has acquired One East Delaware, a multifamily building in Chicago’s Gold Coast neighborhood.
Golub & Company plans to enhance the current features and amenities at the 306-unit property, which include: a fitness center, expansive sundeck, business center, indoor parking and a 24-hour door service. On-site retail include Starbucks Coffee and a full-service spa, Salon Buzz.
“Our repositioning plan will make One East Delaware one of the most sought-after apartment buildings, in the heart of one of Chicago’s most desirable neighborhoods, the Gold Coast,” said Michael Newman, CEO of Golub & Company.
Golub & Company and Alcion Ventures are also co-investors in a portfolio of multifamily properties in many Chicago neighborhoods, including the recent acquisition of Lake Shore Tower in the historic Edgewater community.
A team from Golub and Alcion Ventures negotiated the transaction. HFF represented the seller, Waterton, and also arranged financing for the deal through Deutsche Bank on behalf of the purchaser.
