Chicago
Funding in Place for Monastery to Seniors Conversion in Chicago
Senior Lifestyle Corp. has obtained funding for the redevelopment of a monastery on the Northwest Side of Chicago. The Low Income Housing Tax Credits were provided by Boston Capital.
Village Green Buys Streeterville Apartments, Plans Improvements
Village Green has acquired a 21-story, 147-apartment community in the Streeterville neighborhood of Chicago. Plans call for a repositioning and rebranding.
TODAY’S DEALS: Cohen Financial Arranges $9,89M+ in Fannie Mae, CMBS financing
Cohen Financial’s Dan Rosenberg secured a total of $9.894 million to refinance two multifamily properties; and Marcus & Millichap brokers a seniors housing sale for $33 million.
Inland American Real Estate Trust Inc. Acquires Hotel Monaco Chicago;
Inland American Lodging Group Inc., a wholly owned subsidiary of Inland American Real Estate Trust Inc., recently announced the acquisition of three luxury boutique hotels from Kimpton’s Hotel Monaco collection. The three hotels, acquired for a purchase price of $189 million include the Hotel Monaco Chicago, Hotel Monaco Denver and the Hotel Monaco Salt Lake City.
Chicago Becomes First Top Tier City to Earn Certification as Sustainable Destination for Meetings and Events
The City of Chicago has become one of the first cities in the world and the only top-tier convention destination to-date to achieve certification as a sustainable destination for meetings and events. The announcement was made by Mayor Rahm Emanuel and Choose Chicago.
BEMT Invests in 24-Story Mixed-Use Luxury Rental Community
Bluerock Enhanced Multifamily Trust has recently announced its investment in MDA City Apartments, a mixed-use luxury rental community in downtown Chicago. The New York-based non-traded real estate investment trust has partnered with Village Green, the owner of the 24-story building. Village Green is an owner / operator with a portfolio of around 40,000 units in 13 states.
ST Residential LLC Puts 326-unit Lex up for Sale
Chicago-based ST Residential LLC has hired brokers Holliday Fenoglio Fowler and Eastdil Secured to manage the sale of a 13-property portfolio, with an estimated value of close to $1 billion.
Health Care REIT Expands Portfolio
Ohio-based Health Care REIT Inc. has acquired a 192-unit senior housing development in Lake Barrington for $81.7 million from a joint venture between Senior Lifestyle Corp. and Walton Street Capital LLC,
Forest City Enterprises Plans to Sell Remaining Land Holding in Central Station Development
By Gabriel Circiog, Associate Editor Cleveland-based Forest City Enterprises Inc. has signed a letter of intent to sell its remaining land holdings in the Central Station development, ChicagoRealEstateDaily.com reports. Located in the South Loop, the large-scale residential project has managed to transform the neighborhood before being hit by the condo crash. The developer has decided […]
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