HFF has closed the sale of Tanglewood Apartments, an 838-unit, garden-style multi-housing community in Arlington Heights, Illinois.
HFF marketed the property on behalf of the seller, Principal Real Estate Investors. JRK Property Holdings purchased the offering for an undisclosed amount.
Tanglewood Apartments is located at South Goebbert Road and East Algonquin Road (Route 62) just off the Jane Addams Memorial Tollway (Interstate 90) and approximately 25 miles northwest of Chicago’s central business district. The community is 97 percent leased and includes one-, two- and three-bedroom units averaging 731 square feet each. Community amenities include a clubhouse, 24-hour fitness center, two swimming pools, two sundecks, playground, volleyball court, pet stations and gazebo.
The HFF investment sales team representing the seller was led by managing directors Sean Fogarty and Marty O’Connell, associate director Wick Kirby and executive managing director Matthew Lawton.