CHICAGO, IL – Chicago-based Golub & Company, an international real estate investment and development firm, announced the acquisition of One East Delaware, a luxury rental community in Chicago’s Gold Coast neighborhood, in a partnership with Boston-based Alcion Ventures. The 306-unit building is nestled among upscale shopping and dining options, offers simple access to public transportation and the Loop, and is steps from the lakefront and cultural destinations.

“We’re pleased to add One East Delaware to our growing portfolio of high quality urban mixed-use properties,” said Michael Newman, CEO of Golub & Company. “Our repositioning plot will make One East Delaware one of the most sought-after apartment buildings, in the heart of one of Chicago’s most desirable neighborhoods, the Gold Coast.”

A team from Golub and Alcion Ventures, a real estate private equity firm, negotiated the transaction. The seller, Waterton, was represented by HFF. HFF also arranged financing for the deal through Deutsche Bank on behalf of the purchaser. Terms of the deal were not told.

One East Delaware offers studio, one- and two-bedroom apartments and attached indoor parking.  Residences feature dramatic city views with floor-to-ceiling windows and spacious living areas. Residents delight in amenities such as a fitness center, expansive sundeck, business center, and 24-hour door service. Residents have access to gourmet grocer Potash Market, while on-site retail includes Starbucks Coffee and full-service spa Salon Buzz. Golub & Company plans to enhance the current features and amenities.

“The One East Delaware opportunity was attractive because of the sustained demand for residential and retail options in the Gold Coast,” said Mark Potter, Co-Founder and Partner of Alcion Ventures.  “We look forward to continuing our relationship with Golub as we maximize the revenue potential of this property.”

Golub & Company and Alcion Ventures are also co-investors in a portfolio of residential properties in many Chicago neighborhoods, including the recent acquisition of Lake Shore Tower in the historic Edgewater community.

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BALTIMORE, MD – Officials of The Preiss Company, ranked the nation’s third largest privately held owner/operator of private student housing announced they have been named managers of The Varsity at UB Apartments in Baltimore, MD, consisting of 323 beds.

Built in 2012 to serve Baltimore’s urban universities, The Varsity at UB Apartments is located directly across the street from the University of Baltimore and also attracts students from seven other universities within a five- to 15-minute radius, including the Maryland Institute College of Art (MICA), Johns Hopkins University, Loyola University of Maryland, Notre Dame of Maryland University, Towson University, Stevenson University and Goucher College.

Located at 30 West Biddle Street, the 11-tale brick building is comprised of 323 beds in 114 units, offering studio, two- and four-bedroom floor plans. Amenities in the fully furnished, upscale units include granite counter tops, black appliances and private bedrooms and baths. Other features include a 24-hour state-of-the-art fitness center, computer lab, private study rooms and an on-site Dunkin Donuts.

“Preiss will have a record growth year in 2016 with well over half-a-billion dollars in transactions, and third-party management will continue to play an vital role in our plotted expansion,” said Donna Preiss, chief executive officer. “We now serve 12 different ownership groups as a third-party operator. We continue to have a healthy appetite for third-party management opportunities, but remain highly selective in the type of properties we operate and buy. We work only for those properties where we are confident we can add immediate and long-term value to the owner/investors.

‘The Varsity at UB Apartments is somewhat unique in serving so many diverse universities within a close radius,” Preiss added. “That situation offers a number of opportunities for our property management team to make a unique experience for all of our student tenants.”

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OVERLAND PARK, KS – Senior Lifestyle, an industry-leading owner, operator and developer of senior living communities, announced its newest plotted community, The Sheridan at Overland Park.

Developed by CA Senior Living, the senior housing investment and development division of Chicago-based CA Ventures, the community is part of CityPlace, a mixed-use development in Overland Park that includes plans for additional residences, shops, restaurants and office space, along with landscaped trails and gathering spaces.

Slated for completion in early 2017, The Sheridan at Overland Park is currently accepting leases for its 116 studio, one- and two-bedroom apartment homes, which include helped living and memory care units ranging in size from 315 to 920 square feet.

“The Sheridan is unique in that it blends the latest concepts in senior living design with a warm and nurturing environment, all specifically programmed around residents and their families,” said Peter Crane, executive director of The Sheridan at Overland Park. “It will reflect the consummate level of expert care that has distinguished our family-owned company since its founding more than three decades ago.” 

The Sheridan will include a full suite of luxury amenities and services, including a bistro dining and gathering spot, chef-prepared meals, Wellness Monitoring, best-in-class memory care and 24-hour access to licensed care staff. Additionally, its location along U.S. 69 near College Boulevard and Switzer Road provides simple access to nearby churches and synagogues, as well as shopping, banking and entertainment destinations.

“As a hands-on owner, CA Senior Living is committed to providing best-in-class service at all of our senior housing communities,” said John Dempsey, COO of CA Senior Living. “Given Senior Lifestyle’s successful track record of operating communities that combine the social programming so many seniors desire with the essential services they need, we knew their holistic and highly personalized approach is perfectly suited to manage our development as The Sheridan at Overland Park.”

In addition to providing a range of helped living and memory care accommodations to meet the housing needs of greater Kansas City’s growing senior population, The Sheridan will make more than 100 permanent new jobs in the community.

Diamond Charter Membership is currently available to potential residents and offers a variety of benefits, including first selection of apartment homes, exclusive pricing that will not increase for at least the first year, a private four-course dinner party hosted by the executive chef, and more. A Welcome Center is currently open at 10300 Indian Creek Parkway where prospective residents and their families can learn more about the community.

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