Golub & Company Acquires MultiFamily Property In Chicago For Draper And Kramer

The Prairie Shores, a large-scale workforce housing apartment community in Chicago's Bronzeville neighborhood, was acquired by Golub & Co. and Farpoint Development. The property, located on Martin Luther King Drive, spans 20 acres and comprises five 19-story buildings with a total of 1,675 units. The purchase price was reported to be approximately $180 million.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: Not disclosed
• Address: 2851 S Martin Luther King Dr, Chicago
• Market: Chicago
• Seller: Draper and Kramer
• Buyer: Golub & Company
• Seller's Rep: Kevin Girard(JLL), Marty O'Connell(JLL), Sean Fogarty(Artisan Capital Group), Wickliffe Kirby(JLL)
• Brokers: Marty O'Connell(JLL)

Golub and Farpoint were supported by Collin McKenna, Michael Goldman, Rami Peltz, and Eric Helfand in negotiating the transaction. The purchase was facilitated by an acquisition loan with ACORE Capital, arranged by Stephen Skok, Matthew Schoenfeldt, and Christopher Knight of JLL. The Goldman Sachs Urban Investment Group stood as the largest equity investor in the acquisition, contributing to the development and preservation of housing units in underserved communities across the United States.