British financial services company Legal & General has recently purchased the Arkadia apartment building in Chicago’s West Loop neighborhood through its U.S. investment division.
Built in 2015, Arkadia is a 35-story upscale apartment complex featuring modern amenities. Its prime location near Fulton Market, University of Illinois Chicago, and the Illinois Medical District makes it an attractive property for potential residents. The building, located at 765 W. Adams St., consists of 350 units and marks Legal & General’s first acquisition as part of their newly launched real estate equity platform in the United States.
Roman Hederer, Head of Investments at Institutional Retirement for Legal & General stated that this investment is a significant step towards their strategic goal to expand their property portfolio beyond town and city centers in the UK. He also expressed pride in bringing this approach to one of America’s most vibrant cities.
Legal & General collaborated with Taurus Investment Holdings LLC on this purchase and will continue working with Taurus’ energy affiliate EcoSmart Solution to implement decarbonization strategies for the property.
