FPA Multifamily Acquires Multifamily Property In Naperville For $22.7M

The multifamily property located at 1821 South Washington Street in Naperville has been sold for $22,700,000. This transaction took place on 02/03/2023. The property consists of 164 units, with a price per unit of $138,415. The sale was facilitated by FPA Multifamily, represented by Greg Fowler and Michael Earl. The seller, Legend Group, was represented by Ralph Robbins, Sheldon Ashman, and Allen Shechtman. WaterStone Bank provided the financing for the transaction.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $22,700,000
• Address: 1821 South Washington Street
• Market: Naperville
• Units: 164
• Price Per Unit: $138,415
• Buyer: FPA Multifamily - Greg Fowler & Michael Earl
• Seller: Legend Group - Ralph Robbins, Sheldon Ashman & Allen Shechtman
• Lender: WaterStone Bank

Greg Fowler and Michael Earl, representing FPA Multifamily, played a key role in the transaction as the buyer's representatives. Meanwhile, Ralph Robbins, Sheldon Ashman, and Allen Shechtman represented the seller, Legend Group. The involvement of WaterStone Bank as the lender further facilitated the successful sale of the property.