ACG Acquires Arrowhead Apartments in Chicago Suburb of Palatine

PALATINE, ILL. — Locally based ARTISAN Capital Group (ACG) has acquired Arrowhead Apartments, a 200-unit garden-style property in Palatine, 30 miles northwest of Chicago. ACG partnered with Boca Raton, Florida-based Eastham Capital on the transaction, marking the firms’ fifth joint acquisition. The seller, represented by Marcus & Millichap’s Chicago Oak Brook office, was a joint venture with Hispanic Housing Development Corp. as the managing partner. The community is situated on approximately 11 acres and consists of nine two- and three-story buildings with units offered as a mix of one-, two- and three-bedroom floor plans. Amenities feature a clubhouse, fitness center and a dog park. The property will be managed by ARTISAN Management Group, ACG’s in-house management company. An undisclosed amount of HUD financing backed the acquisition.