Here's a fun fact about the two JV partners who just picked up an 882-bed student-housing complex in Chicago for $59M: They're both Jumbos! NY-based Atlas Real Estate Partners managing principal Arvind Chary and Chicago-based Marc Realty Residential principal David Ruttenberg met at Tufts, where they learned the importance of a cool crib in establishing college street cred. Atlas, MRR, and Angelo Gordon acquired the tower at 2 E 8th St soon to be rebranded as 777 S State Stfrom Equus Capital Partners and financed the purchase with a $44M Fannie Mae loan. Read more at Bisnow here.
College Buds Acquire Chicago Complex for $59M
April 2, 2013
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