A joint venture between LaTerra Capital Management and Respark Residential is under contract with Denver-based Apartment Investment and Management Co., also known as Aimco, to acquire a seven-property Chicago multifamily portfolio in a massive deal worth $455M.
The 1,495-unit portfolio includes all of Aimco’s publicly listed assets in and around the city: two properties in Elmhurst, two in Lombard and one each in Evanston, Rolling Meadows and Chicago. The deal is poised to be one of the largest multifamily portfolio sales in Chicago in recent years and is expected to close in the first quarter.