Alcion, Golub Acquire 579-Unit Apartment Complex

Alcion, Golub Acquire 579-Unit  Apartment Complex

CHICAGO, IL - Boston-based Alcion Ventures and Chicago-based Golub & Company have acquired Hamilton Court, a 579-unit, 11-building complex located in Elk Grove Village, IL, said Lee Golub, executive vice president of Golub & Company. Golub Realty Services will manage and lease the property.

Located approximately 20 miles northwest of downtown Chicago, Hamilton Court resides on a 27-acre landscaped campus that provides a scenic backdrop for the mid-rise apartment building community. With a highly accessible location, the property is immediately west of Interstate 290/355, just north of the four‐way interchange of Thorndale Road and Route 53, and less than five miles south of Interstate 90. Additionally the property stands in the heart of one of the most active multifamily residential areas in the northwest suburbs. The property is approximately 95% leased.

“Hamilton Court provides an exceptional residential environment with a great location and attractive amenities,” said Golub. “We look forward to adding value through sound management and capital improvements that will benefit the property and its residents while achieving the high performance standards and strategic investment goals we share with Alcion Ventures.”

“Consistent with our firm’s strategy, to invest in well-located, high-quality real estate in markets where there are multiple demand drivers and pricing power, the Hamilton Court investment exemplifies the types of opportunities that we pursue,” said Mark Potter, co-founder of Alcion Ventures.

Michael Goldman, senior vice president and Adam Short, senior director, led Golub & Company’s acquisition team. Potter, along with co-founding partner Martin Zieff and director Kris Galletta, led the acquisition on behalf of Alcion Ventures. Michael Miller, senior vice president and managing director and Jeff Cherner, senior vice president and managing director of NorthMarq represented the seller in the transaction. Miller and Rupesh Patel, assistant vice president, arranged the acquisition financing through NorthMarq’s seller-servicer relationship with Freddie Mac. Paula Harris, Golub & Company’s principal and senior vice president, will oversee the property’s management and leasing program.

Chicago-based Golub & Company and its affiliates are active internationally in real estate development, acquisitions, asset and property management, leasing and corporate real estate services. Since its founding more than 50 years ago, the company has owned, leased or managed more than 45 million square feet of commercial and multifamily real estate properties valued in excess of $7 billion.

Based in Boston, Alcion Ventures is a real estate private equity firm that seeks to create value by teaming with best-in-class operating partners to acquire, develop or reposition real estate assets. Alcion Ventures executes a high-yield investment strategy with uniquely positioned real estate in durable locations within select high-barrier to entry markets. Founding Partners Martin Zieff and Mark Potter, both former principals of AEW Capital Management LP, formed the firm in 2004. Together, with Partners David Ferrero and Eugene DelFavero, they have over 80 years of combined real estate investment experience.

Source: Golub & Company

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