Cities
Greystone Appoints 2 Managing Directors in Chicago
William Montana and Christopher Sackley will coordinate the firm’s multifamily sales advisory efforts in the Midwest and report to President Jim McDevitt.
South Side Chicago Affordable Housing Completed
Brinshore Development’s Park Place includes 78 units within West Elsdon’s Back of the Yards neighborhood. McShane Construction worked as the contractor and provided all site work.
Marcus & Millichap Sells Indianapolis Community
Built in 1980, the one-story building is located near Memorial Hospital, a major employer in the area. The community was 100 percent occupied as of May.
Calvera Partners Begins National Expansion
The community is located in downtown Minneapolis, in close proximity to city landmarks. The company plans to upgrade and rebrand the property.
Decron, Sequoia Trade CA Assets in $193M Transaction
Sequoia traded The Villas and Overlook, located in the 4,000-acre master-planned community of Wood Ranch, for Decron’s Broadstone at Strawberry Creek. Institutional Property Advisors represented both companies.
JVM Realty Renovates 4 Suburban Cleveland Communities
Makeovers are underway at the 366-unit Royal Oaks Apartments in North Royalton, the 300-unit Dover Farms in North Royalton, the 261-unit Butternut Ridge in North Olmsted and the 258-unit Hidden Lake Apartments in Stow.
BRIDGE Housing Breaks Ground on $1B Revitalization
The firm and Los Angeles’ Housing Authority started work on a community that will transform the Jordan Downs housing project in Los Angeles. Phase I will add 115 affordable units.
Post South Lamar Phase II Finalized, Begins Leasing
The 344-unit community, located in Austin’s West End submarket, offers studio, one- and two-bedroom units averaging 734 square feet. The leasing activity has started and the property will open on June 15.
$100M LA Arts District Mixed-Use Advances
Greystar’s Arts District AMP Lofts, which includes 320 units and retail space, received a 48-month construction loan from CIT’s Real Estate Finance .
Sares Regis Breaks Ground on Downtown Long Beach Communities
The three communities totaling 348 units were designed by Studio One Eleven and are adjacent to retail amenities. The properties are slated for completion in 2019.