CHICAGO-Pensam Capital has purchased Prentiss Creek, a multifamily community consisting of 700 units in Downers Grove, Illinois. The acquisition of Chicago-area apartment is Pensam's first deal outside Florida.
Pensam purchased the multifamily community at a discount from a lending institution. Pensam and BH Equities are preparing to renovate the property to include new amenities and a clubhouse, upgrade the interior and improve landscaping. The company arranged a loan to manage 80% of the purchase.For the full story, go to Florida Real Estate Journal.
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