Respark Residential and LaTerra Capital Acquire Seven-Property Chicago Portfolio

Respark Residential and LaTerra Capital Management purchase a seven-property multifamily portfolio in Greater Chicago from Aimco, backed by $104M in new debt.

By: AXL Media

Published: Apr 1, 2026, 11:02 AM EDT

Source: https://www.multihousingnews.com/

Financing and Capital Structure

The acquisition was supported by a complex capital stack, including:

New Debt: 3650 Capital provided a $104 million acquisition loan.

Assumed Debt: The partnership assumed an existing $308 million Fannie Mae loan on the assets.

Renovation Budget: Approximately $20 million of the invested capital is earmarked for comprehensive community renovations and modernization.

Portfolio Breakdown