GLENVIEW, ILL. – Transwestern Investment Group (TIG) today announces it acquired a 2.69-acre land site on behalf of a joint venture between TIG’s core separate account and Trammell Crow Co. for the development of a 138-unit multifamily project with 8,650 square feet of first-floor retail, including one drive-through location.
“The North Shore area of Chicago has seen limited supply over the last decade, and this investment will capitalize on the demand for modern rental housing,” said Collin Comer, managing director of acquisitions at TIG. “This specific location was attractive due to its location just two blocks from the Glenview METRA Station, which provides an express line to downtown Chicago.”
Midtown Square is being developed by Trammell Crow Co., a proven multifamily developer in the Chicago area. The investment structure eliminates downside risk due to the developer taking construction and cost overruns. Additionally, acquiring a fully entitled transit-oriented development site with approved plans and permits eliminates entitlement risk.
Transwestern Investment Group is an independent investment management affiliate of the Transwestern family of companies. TIG currently manages $700 million in institutional real estate investments on behalf of its discretionary and non-discretionary clients. TIG is a registered investment advisor.
ABOUT TRANSWESTERN INVESTMENT GROUP
Transwestern Investment Group is an investment advisor serving a broad range of investors through a diversified array of discretionary and non-discretionary investment vehicles. Our client-focused, relationship driven approach ensures our priorities are our clients' investment objectives. Trust, integrity and transparency are the cornerstones of our business. Transwestern Investment Group provides tactical investment management with an integrated operating platform through the Transwestern family of companies, which includes a diversified real estate services firm with 34 U.S. offices and a development company. For more information, please visit transwesterninvest.com.