Acquisition of Multi-Family Land

July 2015

FIDES Capital Partners, LLC (“FIDES”) announces its seventh and eighth joint ventures with a high net worth family office for the acquisition of two land parcels with the potential to develop approximately 50+ luxury apartment units exceeding $13.0 million in total capitalization.   Both parcels are strategically located in the heart of downtown Libertyville and Lake Bluff and within one to two blocks from the Metra commuter train station. FIDES was responsible for sourcing, underwriting, financing and crafting a conceptual development plan for both sites.   “These were off-market opportunities with irreplaceable locations,” said Gregg Handrich of FIDES.  “ Both sites have older existing apartment buildings that rest on sites that are ripe for a higher density development.   The key will be working with the local villages to conceive a development plan that works for both the community and the owner.“  FIDES will  develop and asset management both investments.