Savoy, Ill. — New owner, Bridge Partners, plans to update the 192-unit student housing community.
Savoy, Ill. — Bridge Partners has purchased Indigo Place, a student housing community serving the students of the University of Illinois at Urbana-Champaign.
Dorothy Jackman and Travis Prince, managing directors of Colliers International's Student Housing Group, represented the buyer, Bridge Partners. The seller, Landmark Residential, was represented by Scott Harris and Kyle Shoemaker of Marcus & Millichap's Chicago office.
Bridge Partners is a real estate investment and development company focused on renovating and repositioning multi-family and hospitality properties. The company plans to invest approximately $900,000 to enhance the exterior and update the clubhouse, swimming pool, fitness center and game room.
Indigo Place is a 192-unit, 588-bed complex of two-, three-, and four-bedroom apartments.