A New York City-based investor paid $86.7 million for a 576-unit apartment complex in Schaumburg, the biggest suburban multifamily purchase in more than four years.
An affiliate of TGM Associates L.P. bought Lincoln Meadows from Dallas-based Invesco Real Estate on April 11, financing the purchase with a $60.5 million mortgage from Freddie Mac arranged by CBRE Inc.’s capital markets group, county records show. The complex at 10 N. Lincoln Meadows Drive has been renamed TGM Park Meadows.
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