Breneman Capital, a leading multifamily investment firm based in Chicago, has recently acquired the Ashland Place apartment complex located in the city’s vibrant West Loop neighborhood. This newly constructed property features 47 units, including two one-bedroom and one-bathroom units and 45 two-bedroom and one-bathroom units.
The acquisition includes an attractive loan assumption with a loan-to-value ratio of 73.5%, fixed interest rate of 4.6%, and approximately five years remaining on the term. The property will be expertly managed by Dwelle Properties, a full-service property management company.
With strategic plans to eliminate loss-to-lease, increase ancillary income, and optimize expenses, Breneman Capital aims to maximize the value of this building. This latest acquisition further expands their presence in Chicago’s thriving multifamily market where they have been successfully investing for over ten years.
This news was originally published on Connect CRE website.
