Mount Prospect, IL – T2 Capital Management, a fully integrated, private equity real estate investment firm with $1.4 bn+ AUM, is pleased to announce the official opening of the firms’ HQ Residences multifamily apartment project. The property, located in Mount Prospect, IL – a suburb of Chicago – is a 1.3-acre, class ‘A’ multi-family property comprised of 87-units. Former home to both the Mount Prospect police and fire headquarters, the property is situated in a prime location for prospective tennants with easy access to shops, restaurants, and across the street from the Metra train station.
T2 began construction of the 6-story building in 2022, with construction being completed in ealy Q3 of 2024. Leasing at the property just began in June with the complex already 46% leased as of October 1. The community features studios, one-bedroom, two-bedroom, three-bedroom apartments, and townhomes. Furthermore, the building features include indoor parking, a gym and fitness area, bike storage, pickleball courts, as well as indoor and outdoor recreation areas.
“As a leading investor in the multifamily housing space, we’re excited to continue scaling our portfolio with the addition of HQ Residences in our home state of Illinois,” said Jeff Brown, Founder and CEO of T2 Capital Management. “T2 continues to see substantial investment opportunity in the multifamily housing sector due to the lack of supply of single family homes coupled with elevated mortgage rates. As such, HQ Residences is well positioned to take full advantage of continued long-term growth tailwinds.”
About T2 Capital Management: Headquartered in Wheaton, Illinois with a second location in Nashville, T2 was founded in 2011 in the aftermath of the great financial crisis. T2 serves as a balance sheet lender that has financed projects nationally, including current projects in over 15 states. T2 considers a wide array of credit investments in property types including multi-family, student housing, retail and more. In addition to strategic lending opportunities, T2 actively pursues acquisition and development opportunities in the student housing and multifamily space.