Midwest
NRP Group Breaks Ground on Cleveland Affordable Housing Project
Residences at Cornerstone will bring 76 units to the Euclid-Green neighborhood. The development is part of a mixed-age community that includes Cornerstone Senior Apartments.
2-State Portfolio Lands $125M Loan
Greystone originated the Fannie Mae financing for the 1,383-unit portfolio across Pennsylvania and Kentucky. As part of the recapitalization effort, Bayshore Properties has taken a 50 percent stake in the assets.
Twin Cities Development: Mixed Outlook
The Opus Group’s Matt Rauenhorst and Nick Murnane evaluate the Twin Cities’ multifamily landscape and discuss the challenges developers face in a market with good demographics.
Top 5 St. Louis Completions in 2019
Steady demand is shaping the metro’s development pipeline, as some 1,100 units came online in the first months of 2019, while another 3,550 units were underway as of May.
KY Community Trades for $14M
Vazza Real Estate Group purchased the 292-unit multifamily property in Louisville, with HFF securing acquisition financing through Starwood Mortgage Capital.
HFF Arranges $46M Fannie Mae Loan for Denver Community
Griffis Residential used the financing to acquire Talavera Apartments, where it plans substantial upgrades to everything from unit interiors to overall management and service.
Top 5 Multifamily Developments in Kansas City
Following a sizeable number of completions in the past year, developers are moving forward with a number of projects targeting the metro’s high-growth submarkets.
NorthMarq Arranges Refi for Cincinnati’s Lytle Tower
Senior Vice President Noah Juran negotiated the loan on behalf of Rookwood Properties, the owner of the 11-story Lytle Tower.
Marc Realty Sells Chicago Community
Interra Realty’s Senior Managing Partner Brad Feldman brokered the $2.8 million disposition of the recently-renovated Rogers Park community.
Adaptive Reuse Project in Kansas City Lands $33M Loan
The redevelopment of the former Commerce Bank Executive Office building in downtown Kansas City, Mo., will create a 184-unit community. Berkadia originated the financing.