Midwest
Newcastle Acquires Chicago Multifamily Asset
Sean Connelly and Davis Edgerly from 33 Realty represented both the buyer and the seller in the $5.4 million transaction within the Logan Square neighborhood.
Opus Breaks Ground in Downtown Minneapolis
The six-story building is the company’s third residential development in downtown Minneapolis and its eighth in Minnesota. The community is expected to be delivered in 2020.
Chicago’s West Loop to Gain 2-Tower Community
A joint venture of Lendlease, The John Buck Co. and Intercontinental Real Estate Corp. broke ground on a 586-unit community on the former site of skin care manufacturer H2O Plus.
JVM Completes Renovation in Indianapolis
The community underwent major renovations, including a new pet-washing station, an upgraded fitness center, a coworking lounge, a redesigned clubhouse and new furniture for the pool.
JV Breaks Ground on Minneapolis Community
The 200-unit LakeHaus project is being converted from a 1950s office building into a luxury community near Lake Calhoun.
Nashville Community Sells for $80M
Crescent Communities sold the newly built 275-unit multifamily asset to Dinerstein Cos., with the property’s 2.1 acres of land selling to iStar.
IPA Brokers Knoxville Senior Living Community Sale
The Marcus & Millichap division worked on behalf of the seller in its disposition of Northshore Heights, a 69-unit assisted living and memory care facility.
Essex Realty Sells Chicago Community
Partners Jim Darrow and Jordan Gottlieb represented the seller, JAB Real Estate, in the $24.5 million 1031 exchange transaction.
Emma Capital Expands in Indianapolis
The Hunt Club Apartments and Brandywine Apartments, totaling 496 units, bring the Toronto-based investor’s multifamily holdings in the U.S. to some 9,000 units.
Detroit Keeps Its Composure
Multifamily investors continue to focus on suburban Class B and Class C assets, with acquisition yields hitting double digits.