PLAINFIELD, Ill. – Continental Properties, a national developer and operator of rental communities, retail, and hospitality properties, proudly announces the acquisition of Sixteen30, a premier multifamily apartment community located at 14750 Wallin Drive in Plainfield, Illinois. Originally developed by Wingspan Development Group and opened in November of 2022, Sixteen30 comprises 284 apartments, including a range of studios, one-, two-, and three-bedroom apartments, each designed with comfort and style in mind.
The acquisition of Sixteen30 was funded by Continental Properties' eighth real estate fund, Continental Properties Real Estate Opportunities Fund I, L.P. The Opportunities Fund, which recently held its final closing with total capital of $105 million, focuses on acquiring predominantly Class A multifamily apartment communities in suburban markets. "This is the first of many future acquisitions for Continental," said Dan Sell, Vice President of Acquisitions. "We are actively seeking additional investments for the Opportunities Fund throughout our current market footprint."
"With the acquisition of Sixteen30, Continental Properties underscores its commitment to providing exceptional living spaces in thriving communities," said Aaron Konop, Director of Acquisitions. "Sixteen30 is well-positioned within a growing Plainfield community. We are excited to add it to our portfolio as the first investment for the Opportunities Fund."
Sixteen30 residents will enjoy the advantage of Continental Properties serving as both owner and operator, where they will have access to a dedicated onsite customer service and maintenance team. Additionally, Continental upholds its Resident Pledge, promising exemplary customer service and a commitment to attentively addressing any concerns residents may have.
The community boasts an array of amenities, including an expansive 8,000-square-foot clubhouse, a resort-style swimming pool, a resident lounge, a fitness center, a cybercafé, a demonstration kitchen, a bark park, and more. Apartment features include quartz countertops, ceramic tile backsplashes, stainless steel appliances, vinyl plank flooring, high ceilings, in-unit washer & dryer, and patio/balcony options in most homes. Conveniently located within a ten-minute walk of restaurants, stores, businesses, and park areas of downtown Plainfield, Sixteen30 is set in a highly desirable location in the southwest suburbs.
This acquisition marks Continental Properties' 10th community in Illinois. For more information about Sixteen30, visit our website.
About Continental Properties
Continental Properties is a national developer and operator of rental communities, retail, and hospitality properties. Since its inception in 1979, Continental Properties has developed over 129 apartment communities encompassing more than 34,000 apartment homes in 19 states.
Topics: Investor Relations, Acquisitions
