Trilogy Real Estate Group, a Chicago-based real estate investment and property management firm, has fully subscribed Park 205 DST, a Delaware statutory trust offering sponsored by the firm.
The company used $25.4 million in equity proceeds from the offering, along with approximately $28.1 million in debt financing, to acquire Park 205, 115-unit multifamily property in the Chicago suburb of Park Ridge, Illinois.
“Our expansive network continues to provide us with opportunities to acquire recession-resilient properties in strong suburban nodes like Park Ridge,” said Matt Leiter, chief financial officer.
Park 205, comprised of one-, two- and three-bedroom units, has an onsite fitness center, heated pool and sundeck, poolside grills, a communal firepit, access-controlled gates and temperature-controlled indoor parking. The property is within walking distance of the Uptown district with shopping, dining, cultural and recreational amenities, the company said.
Trilogy Residential Management will manage the property.
Trilogy Real Estate Group has sponsored several private investment funds and qualified opportunity zone funds. Since 2002, the principals of Trilogy have completed more than $4 billion in transaction volume, including $670 million of acquisition and financing activity in 2020. Trilogy manages and develops properties across the Midwest, the East Coast, and the Southwest.