The Mattis Portfolio, Champaign, IL
CHAMPAIGN, IL— Champaign, IL-based Royse & Brinkmeyer sold its Mattis Portfolio, a four multifamily property portfolio totaling 194 units in Champaign, IL, to New York-based Everest Equities for $9.1 million.
Parker Stewart, Ralph DePasquale, and Alex Blagojevich of Berkadia's Chicago office marketed the assets on behalf of the seller.
“These assets have been under the same ownership since they were built in the mid 1970s,” says Stewart. “While the properties were well-maintained, they also represented an opportunity to further upgrade units and potentially re-brand the assets as one.”
The Mattis Portfolio is made up of four distinct properties, Colonial South, Colonial Village, Continental Plaza, and Stoneleigh Court, located within a few blocks of each other along Mattis Avenue, a major north-south artery in the southwest portion of Champaign.
The assets were developed in the late 1960s through the mid-1970s and offer a diverse mix of floor plans including some two-level townhouses. All four assets are located within a mile of I-74, and offer a good mix of studio, one-, two- and three-bedroom floor plans, including many direct-access townhouses. Averaging 804 square feet across the portfolio, most of the units offer individual furnaces and some washer/dryer hook-ups.
|Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
