Emerald Empire Acquires Chicago Portfolio Multifamily For $600M

A multifamily property in Chicago has been sold for approximately $600,000,000. The property, located in the Chicago Portfolio, consists of 7,500 units with an average price per unit of $80,000. The transaction took place between the buyer, Emerald Empire, represented by Moshe Wechsler, and the seller, Pangea Properties, represented by Peter Martay.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $600,000,000 (Approx.)
• Market: Chicago
• Address: Chicago Portfolio

The buyer's representative, Moshe Wechsler, and the seller's representative, Peter Martay, facilitated the sale. The lending institution involved in the transaction was Arbor Realty Trust, with Hamir Ramolia and Maurice Kaufman managing the loan.