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The ReNew Downers Grove apartment complex, located in the Chicago area, has been acquired by Laramar Group for $72.1 million from FPA Multifamily. The property was marketed by JLL’s Kevin Girard, Mark Stern, Zachary Kaufman and Betsy Romenes and a $46.9 million loan was provided by JLL through Freddie Mac for the purchase. In September 2018, FPA paid $65 million to acquire the property.

Constructed in 2009, this complex offers a variety of floor plans including studios and one- or two-bedroom apartments as well as townhomes. Its convenient location just 20 miles outside of downtown Chicago makes it an attractive option for residents with easy access to I-355 and Butterfield Road nearby. Additionally,the surrounding area boasts numerous dining options,s grocery stores,and recreational activities making it an ideal place to live.

This news was originally reported on Connect CRE.

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