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CHICAGO-Locally based Levin Realty Advisors and Walton Street Capital, LLC have purchased a nine-property multifamily portfolio totaling 2,730 apartment units from Greenwood Village, CO-based Laramar Group. The properties, located in Illinois, Minnesota, Missouri and Texas, sold for a combined total of $200 million.

The sole property in Illinois was the 320-unit Hunters Glen in Aurora, IL. The properties in Texas include the 400-unit Sheffield Square in Grand Prairie and the 323-unit Villas of Vista Ridge in Lewisville. In Missouri, buyers obtained the 140-unit Quail Run complex in Kansas City; the 140-unit Kingsridge Apartments in Blue Spring; and the 251-unit Sandalwood Creek complex in St. Charles. And in Minnesota, properties included the 248-unit Town Centre at Lexington in Eagan; the 198-unit Greens at Edinburgh in Brooklyn Park; and the 160-unit Plymouth Square in Plymouth.

The Levin/Walton joint venture purchased the portfolio subject to the venture’s assumption of an existing $250-million Fannie Mae DMBS financing facility, with remaining capacity to be used to finance future acquisitions.

Holliday Fenoglio Fowler, LP senior managing director Matthew Lawton and directors Marty O’Connell, Dave Nachison in Washington, DC; and Bill Miller and Roberto Casas in Dallas led the HFF investment sales team exclusively on behalf of seller. Lawton says the portfolio includes class A and class B multifamily communities “in key US markets that feature excellent fundamentals and are experiencing improving operations and growth in collections.”

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