Silver Property Group Acquires $45M Chicago MF Portfolio
Silver Property Group has acquired a 263-unit multifamily portfolio in East Rogers Park for $45 million.
The portfolio was previously owned and maintained by TAWANI Property Management. Brian Semel and Connor Loughlin of 95 Realty brokered the transaction. Financing was provided by JPMorgan Chase’s Matthew Cohen and Jose de la Garza.
“These buildings are irreplaceable assets in one of Chicago’s most vibrant and diverse neighborhoods,” said Ron Abrams, Managing Partner at Silver Property Group. “We’re proud to build on TAWANI’s work and contribute to the ongoing vitality of East Rogers Park.”
The portfolio includes several architecturally significant buildings, most notably the Farcroft at 1337 W.
Fargo. Originally built in 1928 and renovated in 2013, the 13-story, 84-unit tower boasts lakefront views and historic charm. Founded in 2012, Silver Property Group is a boutique real estate investment and management firm overseeing more than 100 buildings and approximately 2,000 units across Chicago and neighboring suburbs.
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Brokers
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Remax Professionals
Re/Max Real Estate Professionals | New York
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout