Ben Frazer Of Highland Partners Acquires 298-Unit Exhibit On Superior In Chicago For $119M

The property asset involved in this transaction is a 298-unit multifamily apartment tower located at 165 West Superior Street in Chicago, IL. The transaction was completed for $119 million, with a price per unit of $399,329. This 34-story building is situated in the River North area, known for its demand for high-end apartment assets.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $119,000,000
• Units: 298
• Price per Unit: $399,329
• Buyer: Ben Frazer - Highland Partners
• Broker: Justin Puppi, Jason Zyck & John Jaeger - CBRE
• Market: Chicago, IL

The deal was brokered by CBRE, highlighting the involvement of brokers Justin Puppi, Jason Zyck, and John Jaeger. The acquisition by Utah-based Highland Partners adds to the ongoing activity in the multifamily market in Chicago during the summer season, reflecting the persistent investor interest in stabilized properties.