Newmark Arranges Sale of 226-Unit Ashford at Geneva Apartments in Chicago Suburbs

November 10, 2026 9:00 AM

Newmark announces the Company has facilitated the sale of Ashford at Geneva, a 226-unit multifamily community in Geneva, Illinois.

Newmark Senior Managing Directors Susan Lawson, Liz Gagliardi and Chuck Johanns represented the seller, an investment entity controlled by Oak Residential Partners, in the sale to the buyer, an affiliate of Equus Capital Partners, Ltd. The property was approximately 97% occupied at the time of sale.

"Ashford at Geneva is a well-maintained asset in an exceptional location, supported by strong surrounding demographics and home values," said Lawson. "The property's existing performance and opportunity for targeted improvements made it an attractive investment, with the potential to further enhance the resident experience and long-term value."

Following the acquisition, new ownership plans to implement a capital improvement program focused on apartment interiors, common areas and select exterior enhancements.

Ashford at Geneva features one- and two-bedroom apartments averaging 962 square feet. Each residence includes an in-home washer and dryer and a private patio or balcony. Community amenities include a resort-style swimming pool, outdoor grilling lounge, clubhouse, fully equipped fitness center and business center. The pet-friendly community also offers on-site management and maintenance, valet trash service and private garage options.

Located minutes from downtown Geneva, St. Charles and Batavia, Ashford at Geneva offers residents convenient access to the Fox River Trail, nearby parks and forest preserves, and the shops, restaurants and entertainment destinations of the Fox River Valley. The property's proximity to established downtown districts and surrounding residential neighborhoods contributes to its appeal within the western Chicago suburbs.

The sale comes amid continued strength in the local and national multifamily investment markets. In Chicago, steady rent growth and a constrained supply pipeline continue to support the sector, with asking rents up 3.3% year over year and projected 2026 deliveries 39% below the 10-year average. According to Newmark Research, national multifamily absorption exceeded 279,000 units during first half of 2026, marking the second-highest first-half total on record.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leading commercial real estate advisor and service provider to large institutional investors and other owners, global corporations and other occupiers, and lenders. Built with purpose and driven by excellence, Newmark's comprehensive platform is uniquely tailored to provide superior outcomes to clients. For the twelve months ended September 30, 2026, Newmark generated revenues of over $3.7 billion. As of September 30, 2026, Newmark and its business partners together operated from approximately 200 offices with 10,500 professionals across four continents. Learn more at nmrk.com or follow @newmark.

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