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Crescent Closes Regents Park Sale for $159M

CHICAGO-The Miami firm bought the two apartment towers in 2005 for $128 million. Englewood, NJ-based Antheus Capital has reportedly already taken possession.

By Robert Carr | Updated on November 15, 2011

CHICAGO-Miami-based Crescent Heights has closed on its $159 million sale of the Regents Park apartment complex here, in one of the largest apartment sales in the city since the recession. Sources say Antheus Capital, through the firm RP Holdings LLC, purchased the two towers with 1,031 units in the city’s Hyde Park neighborhood.

The buildings were constructed in the early 1970s over the site of a former resort hotel that was being used by the US Army. The south tower is 37 stories and the north tower is 36 stories. The towers were reportedly crime-infested within a few years of operation, but were brought back to solid operation by developer Bruce Clinton. The complex is about 90% occupied, sources say.

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