{"id":1004126704,"date":"2015-09-02T05:32:23","date_gmt":"2015-09-02T13:32:23","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=359931"},"modified":"2020-05-18T01:27:09","modified_gmt":"2020-05-18T09:27:09","slug":"tgm-buys-big-in-naperville-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tgm-buys-big-in-naperville-2\/","title":{"rendered":"TGM Buys Big in Naperville"},"content":{"rendered":"<p><em>By Ioana Neamt, Associate Editor<\/em><\/p>\n<div id=\"attachment_359932\" class=\"wp-caption alignright\" style=\"width: 160px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/342.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-thumbnail wp-image-359932\" title=\"TGM McDowell Place - 1647 Westminster Drive\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/342.jpg\" alt=\"TGM McDowell Place - 1647 Westminster Drive\" width=\"150\" height=\"150\" \/><\/a><\/p>\n<p class=\"wp-caption-text\"><em>TGM McDowell Place &#8211; 1647 Westminster Drive<\/em><\/p>\n<\/div>\n<p>A New York City-based investor is adding to its Chicagoland multifamily portfolio.<\/p>\n<p><a href=\"https:\/\/www.tgmassociates.com\/\" rel=\"nofollow\" >TGM Associates<\/a> recently purchased a 20-building residential community in Naperville, Ill., totaling 400 units. According to <a href=\"https:\/\/www.chicagobusiness.com\/realestate\/20150901\/CRED03\/150909988\/tgm-associates-buys-napervilles-mcdowell-place-apartments-from\" rel=\"nofollow\">Crain\u2019s Chicago Business<\/a>, TGM acquired <a href=\"https:\/\/www.mcdowellplaceapts.com\/\" rel=\"nofollow\" >McDowell Place<\/a> from the Northbrook, Ill.-based <a href=\"https:\/\/www.bannerapartments.com\/\" rel=\"nofollow\" >Banner Essex Apartment Fund I<\/a> for $64.9 million. Dan Cohen, executive vice president at <a href=\"https:\/\/www.cbre.com\/EN\/Pages\/Home.aspx\" rel=\"nofollow\" >CBRE<\/a>, brokered the transaction. With this latest acquisition, TGM\u2019s multifamily portfolio now totals 2,288 apartment units.<\/p>\n<p>Located at 1647 Westminster Drive in the Naperville School District 204, McDowell Place\u2014now TGM McDowell Place\u2014offers residents easy access to Route 59, the 1-88 interchange, and the city\u2019s two Metra stations. The property also provides access to Naperville\u2019s primary retail corridor, which includes the 1.4-million-square-foot Westfield Fox Valley Mall.<\/p>\n<p>\u201cWe are very excited to bring TGM McDowell Place into our multifamily portfolio,\u201d Zach Goldman, managing principal &amp; director of operations for TGM, said. \u201cTGM McDowell Place will complement our three existing TGM Communities in Illinois well, offering residents even more Premium Apartment Living options in the Chicagoland area.\u201d<\/p>\n<p>According to data from <a href=\"https:\/\/www.yardimatrix.com\/\" rel=\"nofollow\" >Yardi Matrix<\/a>, TGM McDowell place incorporates 400 one- and two-bedroom residential units, 832 parking spaces, fitness and business centers, swimming pool, clubhouse, and tennis court. Property manager TGM Communities plans to invest in extensive renovations of the residential units and community amenities.<\/p>\n<p>TGM also owns and manages TGM Springbrook in Aurora, TGM Willowbrook in Willowbrook and TGM Park Meadows in Schaumburg, Ill.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A New York City-based investor is adding to its Chicagoland multifamily portfolio.<\/p>\n","protected":false},"author":192,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21742],"tags":[],"class_list":["post-1004126704","post","type-post","status-publish","format-standard","hentry","category-chicago","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TGM Buys Big in Naperville - 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