Standard Real Estate Investments, a minority-owned private investment firm based in Chicago and led by The Vistria Group, has recently acquired Haven on Long Grove. This multifamily rental community was purchased through an off-market transaction facilitated by CBRE Multifamily’s John Jeager from Pensam Capital. The acquisition also included taking over an existing Fannie Mae mortgage with M&T Bank.
Located within the Chicago metropolitan area, Haven on Long Grove is a 416-unit affordable housing community situated on 34 acres. It offers a mix of one- and two-bedroom apartments as well as townhomes, making it ideal for families in need of workforce housing.
According to Jerome Nichols, President of Standard Real Estate Investments, this purchase aligns with their national strategy for direct workforce housing operations. He describes the property as a high-quality NOAH (Naturally Occurring Affordable Housing) residential community located in one of Chicago’s major suburbs.
This recent sale highlights the strong demand for affordable housing options in suburban areas near major cities like Chicago and showcases Standard’s expertise in acquiring such properties through strategic partnerships like that with Vistria Group.
