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GlobeSt.com EXCLUSIVE: Laramar Portfolio Expected to Generate $350M-Plus

CHICAGO-The Laramar Group LLC, a privately held real estate investment firm based here, is selling a 10-property, 4,541-unit multifamily portfolio, which equates to nearly a quarter of the firm's total holdings. The properties are located in Illinois, Missouri, Minnesota, Pennsylvania and Texas.

By Dana Dubriwny | Updated on June 22, 2005

(To read more on the multifamily market, click here.)

CHICAGO-The Laramar Group LLC, owner and manager of more than 19,000 units nationwide, has put on the market 4,541 multifamily units, or approximately 24% of the firm’s complete asset portfolio. Matthew Lawton, senior managing director with Holliday Fenoglio Fowler LP, tells GlobeSt.com that the portfolio, with properties in Illinois, Missouri, Minnesota, Pennsylvania and Texas, is expected to fetch more than $350 million.

“Laramar is a larger owner, and they are acquiring other assets on an ongoing basis,” Lawton says. “They’ve been in these assets for a while. They’ve added value, and for some properties, there is still some value to add; they’re leaving a little something on the table for the next buyer.”

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