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Investcorp sells Illinois apartment complex for $104M

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Investcorp sells Illinois apartment complex for $104M

An affiliate of multifamily manager Dayrise paid $104 million to acquire the 17-acre Reserve at Hoffman Estates apartment complex in Hoffman Estates, Ill., The Real Deal reported, citing property records.

Bahrain-based Investcorp sold the property, which includes 21 three-story buildings, to ICS Hoffman Estates LLC, which obtained an $81.5 million acquisition loan from Greystone, the report added.