DRA Advisors And Marquette Companies Acquire 400-Unit Multifamily Complex In Saint Charles For $90M

The multifamily asset involved in the transaction is the 400-unit Ascend St. Charles apartment complex located at 100 Lakeside Drive in Saint Charles, Illinois. The deal closed for a total price of $90,000,000, equating to a price per unit of $225,000 and covering an area of 20 acres.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $90,000,000
• Address: 100 Lakeside Drive
• Market: Saint Charles
• Units: 400
• Price Per Unit: $225,000
• Seller: Bradford W. Howe - Broadshore Capital Partners
• Buyers: David Luski - DRA Advisors; Nick Ryan - Marquette Companies
• Brokers: Pete Evans & Richard Evans - Berkadia
• Acreage: 20

The transaction was facilitated by brokers Pete Evans and Richard Evans from Berkadia, representing the seller in the deal. DRA Advisors partnered with Marquette Companies to complete the acquisition, signaling a strategic shift away from retail properties for DRA, while reflecting robust demand for suburban multifamily housing in the current market landscape.