Four Davenport multi-family complexes have new owners.
According to a news release, Colorado-based Monarch Investment and Management Group purchased the properties from Iowa-based Advance Homes, Inc. The deal closed Aug. 23.
The properties, all developed in the 1970s, are:
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- The Racquet Club, 5416 Appomattox Road, 149 units with various bedroom floor plans
- Candlelight Commons, 605 W. 53rd St., 147 units and two- and three-bedroom residences
- Candlelight Village, 5417 N. Gaines St., across from Candlelight Commons, 70 units
- Candlelight Colony, 5135 N. Ripley St., adjacent to Candlelight Commons, 47 units, all studio apartments
Berkadia Real Estate Advisors LLC and Berkadia Commercial Mortgage LLC, with offices in Chicago, Detroit and Kansas City, represented the sale.