Midwest
Detroit-Area Community Lands $87M Refi
The new mortgage, held by PGIM Real Estate Finance, pays down a previous $70 million CMBS loan on the 667-unit property.
Chase Properties Buys St. Louis-Area Asset
The company partnered with Gold Block Ventures to acquire New Town Apartments in St. Charles, a 157-unit community completed in 2004.
Hunt Finances Chicago Multifamily Portfolio
The two Freddie Mac loans total $7.4 million and were secured for financing the acquisition of 90 units located across the Bronzeville neighborhood.
Music City’s Multifamily Build-Up
Wood Caldwell, principal at Southeast Venture and 40-year veteran of the metro’s real estate industry, shares his insights into Nashville’s development boom.
Griffin-American Healthcare Expands MO Portfolio
The REIT added eight skilled nursing facilities in the St. Louis-area to the five assets it acquired last year. The cost of the acquisition was $88.2 million.
Bellwether Secures $43M for MI Affordable Housing
The mortgage banking company provided structured financing for the development of 10 mobile home communities in Michigan.
Andover Real Estate, M Group Acquire Detroit Community
Carlton Apartments has 144 units and is located in the Lafayette Park area of the city. Greystone provided the Fannie Mae Green Rewards financing for the acquisition.
Luxury Community Across from Wrigley Field Opens
M&R Development and Bucksbaum Retail Properties developed The Residences at Addison & Clark, a 148-unit luxury property in Chicago’s Lakeview neighborhood.
Arcapita Acquires Chicago Senior Housing Portfolio
The portfolio is composed of 1,100 units and is the company’s third senior housing acquisition over the last two-and-a-half years.
Detroit’s Unique Development Scene
Jonathan Holtzman of City Club Apartments discusses what sets the metro apart from other Midwestern markets.