NORTHBROOK, IL – TGM announced the acquisition of TGM NorthShore, a 347-unit mid-rise apartment community in Northbrook, IL.

The property was constructed in 2016 and offers one and two-bedroom luxury apartments. Among the distinctive attributes of TGM NorthShore are its market leading amenities and prime location with convenient access to shopping, entertainment and major employment centers that today’s renters demand.

The property offers unrivaled amenities that include: doorman/concierge, virtual-reality golf simulator, two landscaped courtyards featuring a heated pool with multiple outdoor grills, community room with billiards table and shuffle board, catering kitchen, private dining room, dog park, heated parking garage with electric vehicle charging stations, media center with stadium seating, athletic club with yoga room and spin bikes, business center and conference room.   

TGM NorthShore is conveniently located 22 miles north of downtown Chicago in the prestigious North Shore suburbs surrounded by the deeply rooted and affluent communities of Northbrook, Highland Park, Deerfield, Evanston, Glencoeand Winnetka.   The property is located at Skokie Boulevard and Dundee Road with simple access to the Edens Expressway (I-94) and a few miles from the Braeside Metra station. TGM NorthShore is located in the North Suburban and O’Hare office markets which contain approximately 35.5 million square feet of high-quality office space occupied by a diverse group of companies including: Abbott, Medline, Barilla, Walgreens, Siemens, Grainger, Mondelez, and Allstate. In addition to its accessibility to a plethora of major employment concentrations, TGM NorthShore’s prime location offers residents with unique walkable access to over 100,000 square feet of retail amenities including Mariano’s, Chipotle, Panera Bread, Roti, PNC Bank, Fuddruckers, Zengler Cleaners, Kriser’s Natural Pet Store, and Noodles & Company.

“We are pleased to expand our footprint in Chicagoland with the acquisition of TGM NorthShore. TGM NorthShore raises the bar for luxury living with state-of-the-art amenities and interior apartment finishes surrounded by shopping, fine dining, parks, recreation, entertainment and the area’s largest employers,” said Zach Goldman, Managing Principal and Director of Operations for TGM. 

TGM NorthShore is managed by TGMs’ property management company, TGM Communities.  Also owned and managed by TGM in the Chicagoland area is TGM Park Meadows (Schaumburg), TGM Willowbrook (Willowbrook), TGM Springbrook (Aurora), TGM McDowell Place (Naperville) and TGM Danada (Wheaton).

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SPOKANE, WA – Security Properties and Pacific Life, in partnership with Hearthstone Housing Foundation, closed on the acquisition of Deer Run at Northpointe, a 222-unit affordable housing community located in Spokane, WA. This marks the second joint-venture affordable housing acquisition by Security Properties and Pacific Life.

Deer Run at Northpointe is a 222-unit garden-style community constructed in two phases. Deer Run North, delivered in 2003, consists of 114 residential units located in eight three-tale buildings. Deer Run West, completed in 2005, consists of 108 residential units in five three-tale buildings. The two phases share a leasing center, common laundry, and playground. Deer Run at Northpointe is fully rent-restricted, providing affordable rental housing for 187 households earning no more than 60% of Area Median Income (AMI), and for 35 households earning no more than 50% of AMI. “Deer Run at Northpointe is a high-quality asset located in a vibrant and rapidly growing submarket,” says Jeff Garrison, a Director at Security Properties. “This is a unique opportunity to preserve quality affordable housing in a market where demand for this product type far outweighs available supply.” 

Deer Run at Northpointe was bought with a fixed-rate loan from Freddie Mac, originated by Jones Lang LaSalle. As part of the acquisition, the new ownership group opted to participate in Freddie Mac’s “Green Up” program, which supports the implementation of energy efficiency and water usage upgrades. Over the coming months the new property management agent, Security Properties Residential, will oversee a “Green Up” effort that will extend to all residential units and community spaces. 

Deer Run at Northpointe is Security Properties’ third affordable housing acquisition in Washington. The company’s Affordable Housing Group maintains a national footprint with an existing portfolio of more than 8,000 units across 57 low-income housing assets. Security Properties owns more than 13,500 conventional units across 53 properties.

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PHILADELPHIA, PA – Campus Apartments, one of the nation’s largest providers of on- and off-campus student housing, has opened four new developments totaling 1,643 beds in Knoxville, Tennessee; Ann Arbor, Michigan; and Philadelphia, Pennsylvania. All four properties are pedestrian-to-campus and offer residents modern, fully-furnished apartments and market-leading community amenities.

TENN is located on Cumberland Ave., steps from the University of Tennessee’s campus and at the heart of its most prominent retail and nightlife corridor. The 603-bed mixed-use property consists of three-, four-, and five-bedroom floor plans; its best-in-class amenity package includes a two-tale clubhouse featuring a fitness center, study lounge, and putting green, and a spacious internal courtyard with a resort-style swimming pool, fire pits, and grill stations.

In Ann Arbor, Campus Apartments opened two off-campus communities, The Yard and Six11, each of which serve the University of Michigan. The Yard, a 590-bed mixed-use community, offers residents the combination of a Main St. location – pedestrian to campus and the most vibrant retail/nightlife strip in Ann Arbor – and the most comprehensive amenity package in the market. Six11, a 350-bed high-rise, is located directly across the street from Central Campus; residents delight in a 1:1 bed/bath ratio, ground-floor retail, and penthouse-level amenities featuring jaw-dropping views of Ann Arbor.

While Campus Apartments has owned and managed student housing in the University City neighborhood of Philadelphia for 60 years, The Simon at Founders Row is its first ground-up development in the area. The mid-rise community is located steps from The University of Pennsylvania’s campus and offers residents spacious, fully-furnished units and a state-of-the-art fitness center.

“We’re excited to be providing students with high-quality housing in Knoxville, Ann Arbor, and our hometown, Philadelphia,” said Daniel Bernstein, President and Chief Investment Officer at Campus Apartments. “We pride ourselves on offering students a place where they can excel – a place to live, study, socialize, and even exercise, just steps away from campus. We’ve been thrilled with the initial response to these four new developments, and we look forward to continuing to surpass our residents’ expectations.”

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