Zell Kravinsky Of Morning Sky Capital Acquires Multifamily Asset From Greg Fowler For $19.3M

The property asset involved in the transaction is a multifamily unit located at 1 North Main Street in Algonquin, featuring a total of 63 units. The sale price for the property was $19,300,000, translating to a price per unit of $306,349.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $19,300,000
• Address: 1 North Main Street
• Market: Algonquin
• Units: 63
• Price per Unit: $306,349
• Buyer: Zell Kravinsky - Morning Sky Capital
• Seller: Greg Fowler - FPA Multifamily

A venture led by Zell Kravinsky’s Morning Sky Capital acquired the property from FPA Multifamily, which aligns with FPA's strategy of divesting smaller assets while pursuing larger acquisitions, exemplified by a recent $68 million purchase in Naperville.