The Laramar Group, a national real estate investment and management company, announced its acquisition of the Highcrest Townhomes in Woodridge.
The transaction for the 10-building property, which features two-story buildings and a total of 176 units, closed on Oct. 30, 2013.
“Acquiring Highcrest is a continuation of our commitment to expansion in and around the Chicago region,” said Jeff Elowe, president and CEO of The Laramar Group. “The Woodridge location offers a great mix of residential, retail and recreation – and employment opportunities with a seamless, direct commute to downtown Chicago, as well as access to the I-88 high-tech corridor and I-55 industrial corridor nearby.”
Laramar’s capital improvements to the property include adding contemporary features and upgrading the cabinets, appliances and flooring. In addition, the company will renovate the common areas, pool, landscaping and building systems. Laramar also plans to implement ownership and management enhancements and focus on providing excellent customer service to residents.
“We’re committed to providing unparalleled resident service and management of every property we add to our portfolio,” Elowe said. “We’re not just going to upgrade the apartments and amenities at Highcrest, we’re also going to focus on resident appreciation initiatives to enhance the overall living experience.”