Pensam recently closed on the successful sale of Grove at Main, a multifamily community located in Bloomington, Illinois.

The property was acquired in February 2021, at which time Pensam initiated a comprehensive repositioning strategy designed to provide a better living experience for the residents, enhance operational performance and add long-term value. The business plan included a significant capital improvement program, including interior and exterior upgrades, amenity improvements, and operational enhancements..

“The performance of Grove at Main demonstrates both proactive asset management and a thoughtful investment strategy,” said Hen Shoval, Partner and Chief Investment Officer at Pensam. “Through targeted capital improvements and disciplined execution of our business plan, we provided a superior product to the residents, while creating a positive outcome for our investors.”