Midwest
Timberland Partners JV Open 243-Unit Community in Minneapolis
The development is part of the company’s Green Fourth project, which aims to reduce pollution. G4 includes 66 affordable units.
West Shore Acquires 230-Unit Kentucky Asset
The 14-building community, located in Lexington, Ky., is the company’s third major acquisition in the Bluegrass State.
Steele Properties Buys Columbus Affordable Community
The firm has expanded its portfolio with the acquisition of a 112-unit property. The asset will receive more than $44,000 per unit in hard cost rehabilitation.
Madison Marquette, GFH Financial Group Buy 6-Building Senior Housing Portfolio
The joint venture purchased properties located in California, Washington and Michigan totaling 509 units.
Michigan Awards LIHTC for 536 Affordable Units
The state selected five projects in Detroit for the federal tax credits, which will support the construction of 235 new units and preserve the affordability of 318 existing units.
Monument Capital Management Expands Chicago-Area Portfolio
The company purchased Townhomes at Highcrest in Woodbridge as part of Monument Opportunity Fund IV and is planning capital improvements for all the buildings.
Twin Cities Multifamily Report – Summer 2019
Multifamily rents in Minneapolis–St. Paul increased 3.1 percent year-over-year through May, 60 basis points above the U.S. average and slightly higher than other Midwestern markets.
Cleveland Multifamily Report – Summer 2019
The metro’s multifamily sector remained relatively stable in early 2019, with rents increasing 2.4 percent year-over-year through May, just 10 basis points below the national average.
Goldman Sachs Provides $106M Loan for Nashville High-Rise Project
Plans for the 29-story SoBro development call for 354 units above a podium with four levels of parking and 7,600 square feet of retail space.
New Nashville Community Gets $48M Refi
The new loan encumbers a recently completed 230-unit Class A multifamily asset in the city’s Music Row neighborhood, replacing a nearly $40 million construction loan from U.S. Bank.