Equitable Funds buys Schaumburg office complex

SCHAUMBURG - The Equitable Funds LLC has acquired two office buildings on Remington Road in Schaumburg next to four others it recently purchased. The six buildings now make up an office complex Equitable has named One Story Schaumburg, the company said.

Financial terms of the transaction were not disclosed.

The Chicago-based real estate investment and management firm said it has acquired two single-story, multitenant buildings at 1340-1350 Remington Road. In December, it acquired 1305-1375 Remington Road, four buildings formerly known as the Remington Office Court.

The newest buildings acquired total approximately 48,000 square feet of space. When combined with the earlier acquisition, One Story Schaumburg will total more than 130,000 square feet of space. The buildings, located directly across the street from one another, were built in the same style by one developer.

"From the outset our objective was to be able to 'reunite' these properties to create a single asset that could be branded as One Story Schaumburg and marketed to small to mid-size users that seek the advantages of single-story office space," says Jonathan Berger, a co-founder and principal of The Equitable Funds.

At the time of acquisition, the buildings at 1340-1350 Remington were approximately 30% leased, the company said.