Tapestry Station Acquired by TLC Management | Real Estate Services M&A Deal

TLC Management has completed the acquisition of Tapestry Station, a property management business in Illinois, for $38 million. The 120-unit Evanston multifamily asset sits at 740 Main Street and offers studio, one-bedroom, and two-bedroom apartments above ground-level commercial space, with indoor parking, rooftop deck, tenant lounges, and private workspaces. TLC Management acquisitions in real estate services M&A focus on operating and managing transit-oriented properties, and the Tapestry Station acquisition fits its suburban, commuter-near strategy. The divestiture acquisition closed as part of a 1031 exchange after TLC Management sold Chicago’s Whitechapel Apartments for $39.3 million in March, with the Evanston building delivered in March 2024 following a 14-month construction timeline.