Birchwood on Sterling
The Equity Growth Opportunity:
- Initial purchase acquired 594 out of 719 condos for conversion into institutional multifamily asset, and selectively improve unit interiors and exteriors, with a new clubhouse; we currently own almost 700 units and expect to close on remaining condos.
- Our intent is to renovate 10% to 20% of the units and bump rents $165 – $245/unit over three years.
- Located in Palatine, IL – a leading example for suburban renewal. Easy train commute into downtown Chicago.
- Wonderful ‘dirt and bones”. Proximity to preeminent employment corridor.