The 662-unit Town & Country apartment property located at 1032 East Kerr Avenue in Urbana, Ill., was sold for $38,000,000. The asset is situated near the University of Illinois engineering campus, making it an attractive investment opportunity. Additionally, the property comes with a neighboring self-storage facility, enhancing its value proposition.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $38,000,000
• Units: 662
• Price Per Unit: $57,402
• Market: Urbana
• Buyer: Tyler Deveraux - MF Capital Partners
• Seller: Bob Nicolls - Monarch Investment and Management Group
• Broker: Berkadia

Tyler Deveraux of MF Capital Partners led the acquisition of the Town & Country apartment property, a significant move in the real estate market. On the other side, Bob Nicolls represented Monarch Investment and Management Group in the transaction, showcasing strategic decision-making on both ends. Berkadia played a crucial role as the broker, facilitating the successful deal between the buyer and the seller.