Midwest
Grandbridge Real Estate Arranges Refi for 132-Unit OH Property
Funded through one of Grandbridge’s insurance company correspondents, the $1.8 million loan closed with an interest rate of 5.01 percent.
OH Community Commands $21M
The 344-unit community in Groveport, Ohio, in the Columbus metro area, is spread across 5.7 acres. The seller was Ardent Communities.
MZ Capital Acquires TN Luxury Asset
The Northbrook, Ill.-based firm will upgrade and reposition the 130-unit apartment and townhome community in suburban Knoxville to meet the growing demand for luxury rentals.
Starlight Acquires Suburban Denver Property
In the last few months, the Toronto-based investor has added some $270 million of Class A multifamily properties in the U.S., most recently Broadstone Montane in the Denver suburb of Parker, Colo.
Indianapolis’ Demand Keeps Up With Supply
Multifamily demand is strong in the metro, where favorable employment and demographic trends are putting upward pressure on occupancy and giving property owners leverage to raise rents.
Columbus Maintains Stable Rent Growth
Although employment growth moderated in 2018 while multifamily development kept a steady pace, the Columbus rental market remains one of the Midwest’s top performers.
Middleburg Launches $75M Workforce Housing Fund
The company’s strategy is to purchase and rehabilitate distressed communities in the Southeast and Mid-Atlantic regions, starting with the previously acquired Vesta Derby Oaks located in Louisville, Ky.
$30M Senior Living Project Breaks Ground in Suburban Chicago
Scheduled for completion in mid-2020, the three-story assisted living and memory care community will bring 86 residential suites to Highland Park, Ill.
McKenzie Brings New Units to WI Community
The development company has completed 60 units of Timber Valley Apartments, located in Madison, Wis., approximately 8 miles from the city’s downtown.
Nashville Luxury Project Gets $93M Refi
Lifestyle Communities started work on the 411-unit asset in 2016, and the company plans to open the property early this year.