NEW YORK--(BUSINESS WIRE)--Beitel Group and TSG, both NY-based single-family offices, have acquired 720 units in Chicago MSA for a purchase price of $110 Million.
The target is to achieve an increased rent premium by upgrading and enhancing the property. The amenities will include a new business center, state of the art fitness center, clubhouse, and leasing office.
Furthermore, the exterior and interior of the units will be upgraded too. This will include redoing the roofs, sidings, and windows as well as new appliances, resurfaced counters, new cabinets doors, faux wood flooring, and upgraded lighting.
Beitel Group
A NY-based family office focused on the acquisition and development of multifamily and commercial properties nationwide while pursuing a value-add strategy. Beitel currently owns and operates a multifamily portfolio spanning nine states, consisting of 10,000+ units.
TSG
A NY-based fourth generation family office; owner, developer, and operator of a large portfolio of commercial, multifamily, healthcare & senior housing properties nationwide.
