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HFF Closes Massive 21-Property Multi-Housing Properties Portfolio for the University of Chicago

Thursday, October 22, 2015

University of Chicago Multihousing Portfolio HFF recently closed the sale of a 21-property, 676-unit multi-housing portfolio along with two land sites in Chicago, Illinois.

HFF marketed the student housing real estate portfolio offering on behalf of the University of Chicago, and it was subsequently purchased by Pioneer Acquisitions, LLC in its entirety free and clear of existing debt. 



 

The multi-housing portfolio features:

  • 95-percent-occupied University of Chicago graduate student housing and faculty/staff buildings
  • 460,582 total square feet, 681 square feet per unit
  • Total of 883 beds
  • Located in Hyde Park and Kenwood, within walking distance to campus
  • Six miles south of Chicago's Central Business District and close to Lake Michigan

The HFF investment sales team representing the University of Chicago was led by executive managing director Matthew Lawton, managing director Brian Kelly and associate director Michael Higgins.

HFF Chicago is consistently recognized as a top commercial real estate firm serving the American Midwest. Named as a CoStar Power Broker 2014, HFF Chicago is rated as a Top Commercial Real Estate Broker and Financial Intermediary by Midwest Real Estate News. Additionally, the team is recognized as the No. 2 Capital Markets Intermediary in Chicago during 2014 by Mortgage Bankers Association.

About The University of Chicago

The University of Chicago is a private, non-denominational institution with an extraordinary history of world-renowned research and education programs across a broad spectrum of fields. Founded in 1890 by John D. Rockefeller, the university has grown to encompass the undergraduate college, which offers 50 concentrations, six professional schools, four graduate divisions, the Oriental Institute and the Graham School of Continuing Liberal & Professional Studies, which together support more than 80 degree programs.

The university is one of the largest employers in Chicago, with more than 23,000 faculty and staff, on campus and around the world. More than 2,100 full-time academic staff teach or conduct research at the university, and Chicago faculty and alumni have won 89 Nobel Prizes. The university enrolls over 5,000 undergraduate students and over 9,000 graduate and professional students. The university is consistently ranked among the finest universities in the world.






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