Pensam acquires 260-unit apartment community in Chicago suburbs

52
1900 at Canterfield
Pensam acquired 1900 at Canterfield, a 260-unit stabilized multifamily community located in West Dundee, Illinois.

Pensam, a nationally recognized multifamily real estate investment firm managing over $3 billion in assets across its equity and lending platforms, is pleased to announce the acquisition of 1900 at Canterfield, a 260-unit stabilized multifamily community located in West Dundee, Illinois.

“The addition of 1900 at Canterfield to our growing apartment portfolio fits extremely well with our strategy of investing in properties with unique features and in markets where we have an existing footprint and strong management capabilities,” noted Hen Shoval, Principal and Director of Investments at Pensam. “In addition to its excellent location in an affluent suburban market, 1900 at Canterfield features large units with attached garages and direct access entries, as well as a very low-density site plan with only 11 units per acre—all of these features that are particularly valuable to renters today.”

West Dundee is an affluent western suburb of the greater Chicago MSA, featuring average household incomes of over $100,000. Built in 2018, the property is located half a mile north of Interstate 90 providing convenient access to the dynamic I-90 Corridor/Schaumburg job market. 1900 at Canterfield consists of 18 buildings spanning 23.6 acres. Each apartment home at 1900 at Canterfield features a large balcony or patio, direct-access entry, and 9-foot ceilings. Its low-density buildout offers a leasing competitive advantage as high-quality, low-density suburban rental properties are enjoying increased demand from the onset of the pandemic.

Amenities at 1900 at Canterfield include a clubhouse featuring a large clubroom, fitness center, conference room, leasing center, covered outdoor lounge area, and a swimming pool with a sundeck.