Midwest
Chicago Multifamily Tower Lands $149M Refi Loan
The Gallery on Wells is a recently completed 40-story residential building situated in the River North submarket.
Tikijian Associates Arranges $122M Indianapolis Portfolio Sale
The seller acquired Westlake, Woods Edge, Wind Drift, Villa Nova and Riverwood back in 2009 in a portfolio sale. The buyer plans to renovate and rename the properties.
Detroit-Area Communities Receive $47M Financing
Both Fannie Mae Green Rewards loans include a 10-year term and a low fixed rate. Greystone originated the refinancing on behalf of Singh Development Co.
Slower Growth Ahead for Nashville
Asking rates are expected to rise more gradually in the face of robust development—mostly comprising upscale projects—with the average rent reaching $1,216 as of August.
Lexington Corp. Sells St. Louis-Area Community
The buyer, Siesta Coast Capital, paid $4.3 million for the 120-unit multifamily asset. The property last changed hands in mid-2008 for $4.5 million.
Chicago Luxury Tower Lands $215M Refi
Perkins Coie represented the borrower, Optima Inc., in arranging a loan to refinance construction debt on the 57-story Optima Signature high-rise.
Oklahoma Apartments Change Hands
The transaction marks Timberland Partners’ third acquisition in the state, bringing the company’s national portfolio to more than 13,800 units.
JP Morgan Opens Nashville-Area Community
The developer kicked off construction of the project in 2013. Built to achieve LEED Silver certification, the 328-unit asset is within a mile of more than 1,000 apartments currently underway.
Common, CityPads Break Ground on Chicago’s Largest Co-Living Home
Upon completion, Common Addams will include 223 beds and access to more than 5,000 square feet of shared amenity space, marking the partnership’s third project in the city.
Emma Capital Buys Atlanta Property for $36M
The Toronto-based company has expanded its presence in the U.S. with the acquisition of a 392-unit community located in the Northlake suburb.