Midwest
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.
Kansas City Multifamily Report – Summer 2019
While several sectors contracted, the market’s main economic drivers—education and health services, the public sector, manufacturing and professional and business services—all expanded.
Chicago Luxury Community Breaks Ground
The 188-unit transit-oriented development located in the city’s River West neighborhood is slated for completion in 2020.
Strawberry Fields Pays $15M for IL Skilled Nursing Facility
The current tenant of Landmark of Des Plaines, which leased the property at the beginning of 2018, will continue to operate under its 10-year lease.
Chicago Multifamily Report – Summer 2019
The metro remains one of the few gateway markets that face a housing deficit in the year ahead, despite the record number of units scheduled for completion by year’s end.