Midwest
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.
Morgan Properties Lands $91M Multifamily Portfolio
Constructed between 1969 and 1979, the four communities in and near Nashville, Tenn., total 826 units. The buyer took a nearly $75 million Fannie Mae loan to finance the acquisition.
TSB Realty Secures Sale of MN Student Housing
The 772-bed Radius @ 15th serves students attending the University of Minnesota. Pinnacle Campus Living will manage the property.
Heitman Brings New VP on Board
Ashish Karamchandani, who previously occupied a similar position with Magellan Investment Partners, will be part of the company’s acquisitions team.
Gilbane Development to Construct 5 Student Housing Communities for $400M
The new projects, which will include 3,500 beds, will open in Georgia, Arizona, Illinois, Maryland and Oregon within the next couple of years.