Berkshire Group announced the purchase of Eight O Five N. LaSalle in Chicago, Illinois, from Smithfield Properties. The 32-story, 292-unit River North high-rise was designed by Berkelhamer Architects and completed in 2015.

Anchored by the Merchandise Mart and home to iconic architecture including Marina City and 330 N. Wabash designed by Mies van der Rohe, River North features high-end dining and retail as well as a vibrant night life scene. The neighborhood is within walking distance of the Loop and the financial district as well as Oak Street and Magnificent Mile shopping.

“It is not always easy to find a property with the quality and amenities of Eight O Five in such a desirable location,” noted Jack Dent, Managing Director, Portfolio Manager, Berkshire Group. “Demand in the River North area and the superior appointments of the property are ultimately why Eight O Five fits so well into our core investment strategy.”

Eight O Five is located near train and bus lines and features a rooftop outdoor pool and sundeck, parking and bicycle storage, and an outdoor dog run. Apartments feature floor-to-ceiling windows, spacious balconies and terraces, and high capacity internet connections.

Berkshire Group announced the purchase of One Santa Fe in Los Angeles, California. The 438-unit Class A apartment community located in the Arts District of Los Angeles will be managed by Berkshire Communities, the property management division of Berkshire Group.

“The purchase of One Santa Fe reflects our focus on purchasing quality multifamily properties in select markets across the country,” noted Eric Schrumpf, Senior Vice President, Multifamily Acquisitions, Berkshire Group. “The Arts District of Los Angeles offers a rich quality of life for residents drawn to the bustling restaurant, retail and nightlife scene in the immediate neighborhood in close proximity to the heart of downtown Los Angeles. With over 80,000 square feet of ground floor commercial and retail space, One Santa Fe offers numerous conveniences such as an organic grocer and dining options for both the residents and the neighborhood.”

Designed by renowned architect, Michael Maltzan, One Santa Fe has been featured in the Museum of Contemporary Art (MOCA) and the Los Angeles Times as a significant recent achievement in residential architecture. The property spans approximately one quarter of a mile over four city blocks and consists of two buildings situated around the retail paseo. One Santa Fe features a mezzanine level pool, a sixth-floor sundeck with a BBQ and dining area, a fitness center and private yoga/Pilates studio. The property also features three whirlpool spas, multiple BBQ and dining areas, a fully-equipped resident clubhouse, and an outdoor cinema equipped courtyard. Units feature stainless steel kitchen appliances, quartz countertops, European-style cabinets, central heat and air conditioning, and washer/dryers.

Berkshire Group, in a joint venture with The Hanover Company, announced the groundbreaking in April on Domain Foxborough, a 248-unit apartment community located in Foxborough, Massachusetts. Completion for the development project is slated for late 2017. Once stabilized, the property will be managed by Berkshire Communities, the property management division of Berkshire Group.

“We are excited to execute another joint venture with The Hanover Company,” noted Kel Frazier, Vice President, Multifamily Development Investments, Berkshire Group. “Domain Foxborough fits nicely with our strategy and we are eager to watch the project progress. The development is located in a supply-constrained submarket with significant barriers to entry for future multifamily development. In addition, the site is highly visible and offers great connectivity to the employment nodes within the region.”

Domain Foxborough amenities include a resort-style pool with grilling stations, game room and movie room, dog park, business center and fitness center.

Continues to Strategically Invest in Portland Market

Berkshire Group announced the purchase of Cook Street Apartments in Portland, Oregon, from Seattle-based developer, Lake Union Partners. The 206-unit, Class A apartment community located in the Williams District of urban Portland will be managed by Berkshire Communities, the property management division of Berkshire Group. This transaction represents Berkshire Group’s second multifamily investment in urban Portland in 2016 following the Lower Burnside Lofts acquisition in February.

“In purchasing Cook Street Apartments, Berkshire is continuing its strategy of investing in quality properties in key markets,” noted Eric Schrumpf, Senior Vice President, Multifamily Acquisitions, Berkshire Group. “Urban Portland and the North Williams submarket offer a rich quality of life for residents drawn to the bustling restaurant, retail and nightlife scene in the immediate neighborhood in close proximity to the heart of downtown Portland.”

Cook Street Apartments amenities include a roof-top deck, yoga studio, fitness center, library, bike storage/repair studio, and a top floor resident lounge with a demonstration kitchen. The roof deck includes a sizable trellis, multiple fire pits, and two barbeques. Units feature stainless steel kitchen appliances, hard surface countertops, and washer/dryers. The property is located adjacent to the high-end, locally-based New Seasons Market that serves as the neighborhood’s anchor grocery store.