{"id":1004068475,"date":"2013-03-11T06:31:51","date_gmt":"2013-03-11T14:31:51","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004068475"},"modified":"2022-12-07T07:59:29","modified_gmt":"2022-12-07T15:59:29","slug":"tgm-buys-two-property-m-f-community-in-chicago-area-for-101m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tgm-buys-two-property-m-f-community-in-chicago-area-for-101m\/","title":{"rendered":"TGM Buys Two-Property M-F Community in Chicago Area for $101M"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/em><\/p>\n

\"\"<\/a><\/p>\n

<\/em>\u00a0<\/span>TGM Associates, a New York-based multi-family investor, has purchased TGM Willowbrook, a two and three-story garden property, totaling 712 units in 76 buildings, located in\u00a0Willowbrook, Ill., for $101 million.<\/span><\/p>\n

\u201cWe are very excited to bring TGM Willowbrook into our multi-family portfolio,\u201d John Gochberg, TGM Associates\u2019 COO, said in a prepared statement. \u201cTGM Willowbrook will complement other TGM Communities in\u00a0Illinois, offering even more premium apartment living options in the area.\u201d<\/p>\n

The property was previously known as The Communities of Ascot Glen, which was owned by RREEF and managed by Lincoln Property Management.\u00a0 HFF marketed the properties on behalf of the seller. HFF also secured a $75 million 10-year, 3.745 percent fixed-rate loan through M&T Realty Capital Corporation.<\/p>\n

Located at 6060 Laurel Lane on Highway 83, TGM Willowbrook consists of one- and two-bedroom floor plans averaging 847 square feet each.\u00a0Units feature oversized balconies, patios and generous closets in each apartment. Select apartments feature authentic, wood-burning fireplaces. A number of the apartments were partially renovated in 2010.<\/p>\n

Community amenities include two fitness centers, two clubhouses, three outdoor swimming pools, three tennis courts, a sand volleyball court, game room, business center and dog walking trails. There\u2019s also an abundance of parking space.<\/p>\n

Situated in\u00a0DuPage County, the property sits just 20 miles southwest of downtown Chicago, conveniently located near all major highways. It\u2019s also less than a half hour from O\u2019Hare International Airport. The community offers convenient access to public transportation via\u00a0Metra Station\u00a0for easy commuting into\u00a0Chicago\u00a0or other parts of the region.<\/p>\n

TGM Willowbrook was 95 percent occupied at the time of the sale.<\/p>\n

TGM Associates also has two additional properties in the area having purchased TGM Springbrook in Aurora last December and TGM Park Meadows in Schaumburg last April.<\/p>\n

 <\/p>\n

The HFF investment sales team representing the seller was led by executive managing director Matthew Lawton, managing directors Marty O\u2019Connell and Sean Fogarty, and associate director Wickliffe Kirby.<\/p>\n","protected":false},"excerpt":{"rendered":"

New York-based multi-family investor TGM Associates has purchased TGM Willowbrook, a two- and three-story garden property, totaling 712 units in 76 buildings, located in Willowbrook, Ill., for $101 million.<\/p>\n","protected":false},"author":451,"featured_media":1004068476,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21783,13,21742],"tags":[],"class_list":["post-1004068475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-midwest","category-latest"],"acf":[],"yoast_head":"\nTGM Buys Two-Property M-F Community in Chicago Area for $101M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/tgm-buys-two-property-m-f-community-in-chicago-area-for-101m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TGM Buys Two-Property M-F Community in Chicago Area for $101M\" \/>\n<meta property=\"og:description\" content=\"New York-based multi-family investor TGM Associates has purchased TGM Willowbrook, a two- and three-story garden property, totaling 712 units in 76 buildings, located in Willowbrook, Ill., for $101 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/tgm-buys-two-property-m-f-community-in-chicago-area-for-101m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-03-11T14:31:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T15:59:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/03\/TGM.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"532\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tgm-buys-two-property-m-f-community-in-chicago-area-for-101m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/tgm-buys-two-property-m-f-community-in-chicago-area-for-101m\/\",\"name\":\"TGM Buys Two-Property M-F Community in Chicago Area for $101M - 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