Apartment landlord Prime Property Investors Ltd. sold a 224-unit multifamily property in north suburban Lake Bluff for almost 31 percent more than it paid for the complex less than two years ago.
The Northbrook-based company said it sold the Deer Valley Luxury Apartment Homes for $28.6 million Tuesday to Steadfast Income REIT, an Irvine, Calif.-based investor. Prime acquired the 13.5-acre property at 30011 N Waukegan Road for $21.9 million in June 2011, financing the purchase with a $15.8 million loan, according to Lake County property records.
Read more in Crain’s Chicago Business.
