Redwood Capital Group Acquires 236-Unit Luxury Apartment Complex in Deer Park
Redwood Capital Group, LLC, a Chicago-based multifamily investment advisor, has acquired Deer Park Crossing, a 236-unit apartment complex in Deer Park, Illinois. The property was constructed in 2018 by REVA Development Partners, a Chicago-based real estate developer specializing in high-quality rentals, for-sale housing and mixed-use projects throughout the Midwest.
“Deer Park Crossing is a Class AA apartment community located in a premier Chicago submarket, with the amenities and unit sizes to outperform the market for years to come, making it a great investment opportunity,” said Bill McDougall, vice president of acquisitions at Redwood Capital Group. “The property leased up on its projected schedule, and the retention rate has been close to 70 percent this year, signaling high resident satisfaction and minimal occupancy risk.”
Read more at REjournals.com