Champaign, Ill. – SVN | Ramshaw Real Estate, Inc., one of the nation’s premier net lease brokerage firms, has completed the sale of a 414-unit multifamily portfolio consisting of Campaign House, Hessel on the Park and Westbury Apartments, for $21.25 million in Champaign, Ill. Alex Ruggieri, CRE, CCIM, CIPS, SEC, MBA of SVN | Ramshaw Real Estate, Inc. brokered the transaction.
“There is considerable demand for stabilized multi-family assets from the investment community in this area of Illinois. This portfolio, although a bit older, represented a high quality, well maintained affordable housing stock that serves as a great value add for both the buyer and seller,” said Ruggieri.
The three-property portfolio is conveniently located just south of Chicago and is in close proximity to the major transportation options, including interstate 57, 72 and 74, Willard Airport and the Champaign-Urbana Mass Transit District. The first property, Campaign House, located at 1511 W. Kirby Avenue, features 84 two- to three-bedroom homes. Hessel on the Park, located at 1862 Valley Road, includes 285 one- to two-bedroom homes. The third property, Westbury Apartments, located at 1801 W. John Street, features 45 three-bedroom homes.
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About SVN | Ramshaw Real Estate, Inc.:
SVN | Ramshaw Real Estate, Inc. is an independently owned and operated SVN® office. The SVN organization is a globally recognized commercial real estate entity united by a shared vision of creating value with clients, colleagues and our communities. The SVN Brand is comprised of over 1,600 Advisors and staff in more than 200 offices across the globe. Our brand pillars represent the transparency, innovation and inclusivity that enables all our advisors to collaborate with the entire real estate industry on behalf of our clients. SVN’s unique Shared Value Network® is just one of the many ways that SVN advisors create amazing value with our clients, colleagues and communities. For more information, visit www.svn.com.