Artisan Capital Group Acquires 200-Unit Arrowhead Apartments In Palatine For $31.4M From Hispanic Housing Development Corporation

The asset involved in the transaction is the Arrowhead Apartments, a multifamily complex located at 1950 Cambridge Court in Palatine, with a sale price of $31,400,000. The property consists of 200 units, breaking down to a per unit price of $157,000. This suburban complex includes 40 HUD-subsidized affordable units and 160 market-rate apartments, contributing to its diverse housing offerings.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $31,400,000
• Buyer: Ryan Cahalan, Michael Perry & Sean Fogarty - Artisan Capital Group
• Seller: Tony Hernandez - Hispanic Housing Development Corporation
• Units: 200
• Price Per Unit: $157,000

Artisan Capital Group's acquisition of the property was financed through HUD, enabling them to target stable and well-positioned communities. The transaction indicates a strategic move by the buyer to invest in a combination of affordable and market-rate units, fostering diversity in housing options within the area.