Redwood Capital Group continues $400m acquisition spree

Redwood Capital Group has acquired Brook Run, a 182-unit apartment community in Arlington Heights, Ill., and Wilder, a 381-unit apartment community in Austin, Texas.

Brook Run is in Arlington Heights, a sought-after suburb situated 25 miles northwest of downtown Chicago. The community offers convenient access to major employment centers, well-regarded public schools, popular retail and downtown Chicago via Interstate 90 or the Metra commuter rail. The property features one-, two- and three-bedroom units. Redwood plans to renovate all the unit interiors to include vinyl plank flooring, granite countertops, white cabinetry, kitchen backsplashes, updated fixtures and entry closet benches. Common-area amenities include decorative ponds, a clubhouse with leasing center and resident lounge, a resident business center with computers, and an outdoor swimming pool with multiple cabanas and lounge seating.

Wilder is a newly constructed, class A, garden-style community in the Sou