Midwest
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.
Luxury Community Changes Hands in KC
Union Berkley Riverfront Park includes 407 units and 12,400 square feet of retail space. Flaherty & Collins Properties broke ground on the project in 2016 and completed it in 2018.
Marcus & Millichap Facilitates Chicago Sale
The firm has brokered the transfer of an 81-unit community located in Chicago’s Rogers Park neighborhood, approximately 11 miles from downtown.
St. Louis Makes Modest Gains
The metro’s multifamily market continues to improve at a middling rate, as its population and job market grow at a pace below the national average.
Marquette Cos., DRA Advisors Buy Chicago-Area Asset
The joint venture acquired the 558-unit community in Westmont, Ill. The seller was Long Wharf Capital LLC.