John Atwater Of Prime Finance Acquires MDA Apartments From Jonathan Holtzman For $59M

The property asset involved in the transaction is a multifamily building consisting of 190 units located at 63 East Lake Street, Chicago, IL. The acquisition was completed for a transaction amount of $59 million, resulting in a price per unit of $310,526.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $59,000,000
• Units: 190
• Buyer: John Atwater - Prime Finance
• Seller: Jonathan Holtzman - City Club Apartments

In this transaction, John Atwater represented Prime Finance, which acquired the property through a deed-in-lieu agreement with Jonathan Holtzman of City Club Apartments. This agreement concluded a foreclosure lawsuit regarding a $66 million mortgage, allowing both parties to avoid further litigation.