Legal & General Acquires West Loop Apartment Building

Legal & General Acquires West Loop Apartment Building

Legal & General, a British financial services company, has acquired the Arkadia apartment building in the West Loop neighborhood of Chicago through its U.S. investment arm.

Constructed in 2015, Arkadia is a 35-story luxury apartment building with modern amenities. The property is close to Fulton Market, the University of Illinois Chicago and the Illinois Medical District. The 350-unit apartment tower is located at 765 W. Adams St., and the transaction marks the first acquisition as part of the company’s launch of a dedicated real estate equity platform in the U.S.

“This investment is an important milestone in our strategic vision to internationalize our property portfolio beyond the UK’s town and city centers,” said Roman Hederer, Legal & General’s Head of Investments at Institutional Retirement. “We are proud to bring this approach to one of the most dynamic cities in the U.S.”

Legal & General worked with Taurus Investment Holdings, LLC on the acquisition and will work with Taurus’ energy affiliate EcoSmart Solution, to execute decarbonization strategies for the property.

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