In news from Northbrook, Illinois, Prime Property Investors announced the purchase of Deer Valley Apartments in Lake Bluff. The 224 unit luxury complex was offered by San Francisco based Stockbridge Capital Group for a pension plan client.
The 13 building Deer Valley complex includes a clubhouse and garages for community member’s vehicles. Spread over 13.5 acres, the 200,000 square foot property also sports a fitness center, pool, along with all the apartment unit conveniences. Co-CEO, Barbara J. Gaffen, had this to say about the deal: “The purchase compliments our search for quality stabilized assets in high growth sub markets with the potential for appreciation in value.” And, partner and Co-CEO, Michael H. Zaransky, commented that;
“Deer Valley is an amenity rich trophy asset in the highly desirable Lake County Suburban Chicago MSA market. The Chicago suburban MSA, and Lake County in particular, provides considerable upside due to a lack of new construction, significant barriers to entry, and projected growth in renter demand.”
About the Principals
Prime Property Investors is a leading multi-family property investment firm in Northbrook, Illinois. the company has a nationwide student housing portfolio, as well as their branded Prime Campus Housing (Tennessee site above) and Garden Style Conventional Apartment Complexes. Interestingly, the company’s Tennessee contingent offers a nice online experience when compared to the Chicago hub site, but the Florida State site seems to be gone? Their Deer Valley property (Facility entrance below) affords the best online engagement, offering an upscale site, even a bit of a Facebook profile. Another online presence, Arbors of Brookdale, affords yet another view of Prime properties (image top).
Co-CEO Michael H. Zaransky is an expert on campus housing, having authored at least one book on the subject of investment entitled, “Profit by Investing in Student Housing: Cash In on the Campus Housing Shortage”, and available from Barnes & Noble, or or here at Amazon.Investing Books). Zaransky’s Co-CEO, Barbara J Gaffen, is a graduate of Loyola University Chicago School of Law, as well as Indiana University’s Kelley School of Business.
Stockbridge Real Estate is Co-Run as well by Terry Fancher and Steve Steppe. The company offers a wide range of investment management services to their clients. With offices in San Francisco, New York, Chicago, and Los Angeles, Stockbridge also invests in core, value-added properties throughout the US.
I mention these digital elements as part of RealtyBiz’s ongoing evaluation of real estate engagement on the web. Despite the efficacy and utility of digital tools, a large percentage of real estate professionals either do not, or cannot, extend themselves into the digital realm. The brick and mortar real estate world, to a massive extent, is stuck in the stone age technologically. More later on this and other real estate engagement.