GMF Capital, Argo Partners Acquire 588-Bed Community Near the University of Illinois

Savoy, Ill. — A joint venture between GMF Capital and Argo Partners has acquired The Place at 117, a 588-bed student housing community located near the University of Illinois campus in Savoy. The property offers two-, three- and four-bedroom, fully furnished units. Community amenities include a swimming pool and hot tub, clubhouse, 24-hour fitness and study centers, a dog park and direct shuttles to campus. The partnership plans to modernize amenities, enhance the property’s exteriors and unit interiors, and substantially upgrade technology throughout the complex. Travis Prince and Victoria Marks with Cushman & Wakefield’s Student Housing Capital Markets Team represented the seller, Bridge Partners, in the disposition of the asset.