January 2014

FIDES Capital Partners, LLC (“FIDES”) announces its second and third joint ventures with a family office client on the acquisition of two apartment properties totaling 66 units with a total capitalization of $7.5 million.  The properties are located in Naperville and Downers Grove, IL.  FIDES was responsible for sourcing, developing the asset plan, underwriting and financing the transaction.  “This is a typical value-add investment for us,” said Gregg Handrich of FIDES “as both properties had complacent property management with rents that were substantially below the competition.  We are planning to invest additional capital to upgrade the interiors and exteriors of the properties, and we will completely rebrand the assets.  Although FIDES was not the high-bidder, the seller was confident that FIDES would close the transaction.”  FIDES will asset manage both properties and will oversee the capital upgrade programs.