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20 Naper Boulevard

FPA Multifamily Acquires Huntington Apartments In Naperville From Rockwell Partners For $68M
SOLDMultiFamily

FPA Multifamily Acquires Huntington Apartments In Naperville From Rockwell Partners For $68M

20 Naper Boulevard

$68,000,000

Building Size

Asset Type

MultiFamily

Closing

Mar 10, 2025

AI

The 356-unit Huntington Apartments located at 20 South Naper Boulevard in Naperville, a multifamily asset, was sold for $68 million. FPA Multifamily acquired the property, assuming a $39.8 million mortgage at a sub-3.6% interest rate amidst strong suburban rental demand and favorable tax conditions in DuPage County.

Summary of transaction details:

This transaction highlights key players in the multifamily real estate market, with Greg Fowler representing FPA Multifamily and Jason Fishleder representing Rockwell Partners in the deal. The brokerage team from Newmark, including Chuck Johanns, Elizabeth Gagliardi, and Susan Lawson, facilitated this significant transaction in the Naperville market.

Players

Chuck Johanns

Newmark

Broker

$820.9M

vol

8 deals

Broker
Greg Fowler

Greg Fowler

FPA Multifamily

Buyer

$1.3B

vol

17 deals

Buyer

Naperville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.23%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93