DMG Capital Announces Acquisition of Roselle Luxury Apartments

December 4, 2023, Chicago, IL – Today, DMG Capital, the multifamily investment affiliate of Chicago-based Daniel Management Group (DMG) completed the acquisition of Roselle Luxury Apartments, a 72-unit apartment community located in Roselle, Illinois. DMG Capital partnered with JDI Realty (JDI) and The Wolcott Group, two Chicago-based real estate investment firms, to acquire the property. Roselle Luxury Apartments has been professionally managed by DMG since September 2022, and DMG will continue to both manage and now lease the property, through DMG Leasing, post-acquisition.

“We are proud to acquire Roselle Luxury Apartments along with JDI and The Wolcott Group. The property is well-located and offers spacious, condo-quality units to its residents,” said Roger Daniel, President and Co-Founder, DMG Capital. “As the existing property manager, we had a unique opportunity to acquire the Roselle Luxury Apartments.  We understood both the property’s market value and strong potential to realize revenue growth.”

Roselle Luxury Apartments consists of 72 units that are all two-bedrooms and two full bathrooms with a mix of floor plans. Residents enjoy an apartment community with large units all with contemporary luxurious finishes. Residents also have access to green space, the Roselle’s downtown and Metra station, making it easy to commute to the city. Additionally, there are plans for residents to get access to bundled services including internet.

“Roselle Luxury Apartments exemplify today’s real estate trends and opportunity,” said Jeff Aeder, Founder of JDI Realty. “The property’s high-quality finishes and spacious units secured our interest in this acquisition.”

Chicago suburbs continue to be a destination for renters looking to have apartments that are spacious, high-end finishes, accessible green space amenities while providing maintenance free living. Roselle Luxury Apartments delivers on all of these resident interests enabling the community to be well-positioned for continued success.

“We look forward to an ongoing partnership with DMG and DMG Leasing post-acquisition to continue the strong management of the building with the goal meeting resident’s need and realizing the property’s potential,” said Andrew Goodman, Principal of The Wolcott Group.

About DMG Capital: DMG Capital is a Chicago-based real estate investment firm focused on creating value in the multifamily space. Its principals have been involved in the acquisition, development and management of over $500 million of multifamily assets. DMG Capital applies the same attention to detail and professional expertise to sourcing, underwriting and structuring multifamily real estate transactions that DMG does to operating them.

About JDI Realty: JDI Realty is an opportunistic investment firm that provides both equity and debt to real estate ventures. Established in 1988, JDI has built a reputation for innovative structuring, speed of execution, and professionalism in the real estate investment space. JDI makes both direct and joint venture investments in all types of real estate assets nationwide.

About The Wolcott Group: The Wolcott Group is a value-focused investor, owner, and operator that strategically invests in real estate and real estate-secured assets throughout the United States.  The Firm invests in all real estate asset classes. Wolcott makes direct investments and provides capital to partners through joint ventures, preferred equity, general partner equity, and co-investment.