Transactions - SEPTEMBER 8, 2014

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Georgetown Co. to buy Chicago apartments for $215m

by Andrea Waitrovich

New York City–based investor Georgetown Co. has purchased the 496-unit K2 luxury apartment complex at 365 N. Halsted St. in Chicago.  The seller is a joint venture between property developers Fifield Realty Corp. and Wood Partners.

An official announcement has not been made, but the sales price is estimated to be $215 million, or $433,468 per unit. The 34-story property was built in 2013.

The acquisition follows Georgetown’s earlier Chicago purchase of 220 W. Washington St., a retail property, for $3.5 million. Tenants include Dunkin Donuts and Downtown Cleaners. 

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