Updated Dec 4, 2024
Standard Real Estate Investments LP And The Vistria Group LP Acquire Haven On Long Grove Apartments In Aurora For $94M
826 Terrace Lake Drive
$94,000,000
Units
416
Asset Type
MultiFamily
Closing
Jan 10, 2024
About this deal
AI
The 416-unit Haven on Long Grove apartment community in Aurora, suburban Chicago, has been acquired by Standard Real Estate Investments LP and The Vistria Group LP for $94 million. The property, previously purchased for $77 million in 2021, was sold by Pensam Capital, resulting in a profitable transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $94,000,000
- Address: 826 Terrace Lake Drive
- Market: Aurora
- Acres: 34
The buyers in this transaction were Jerome Nichols from Standard Real Estate Investments LP and Kip Kirkpatrick from The Vistria Group LP. Representing the sellers was Gavin Beekman from Pensam Capital. The lender involved in the deal was M&T Bank.
On the Map
$94,000,000
MultiFamily
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Players
Aurora MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93