Midwest
Grandbridge Real Estate Closes $31M Financing for MN Property
The company’s wholly owned subsidiary funded the non-recourse loan for Borealis, a 124-unit Class A property in Minneapolis’ North Loop.
Essential Living Completes ND Rehab Project
Park South Apartments is the first affordable housing community in Minot to be supported by the National Disaster Resilience.
Berkadia Brokers Sale of 156-Unit St. Louis Asset
Michael Sullivan, Ken Aston, Andrea Kendrick and Alex Blagojevich of three different Berkadia offices in the Midwest represented seller Mills Properties in the transaction.
Demand Fuels Growth in Chicago
Multifamily rents are increasing at the fastest pace since November 2016, reaching 1.8 percent year-over-year as of June.
MI Community Receives $11M Refi
After previously securing acquisition financing for Timberwood Crossing, Cohen Financial has now arranged a HUD-insured loan for the same property. Managing Director Cathy Bronkema worked on behalf of the owner.
Interra Realty Closes New Chicago Deal
The multifamily property is located in the Edgewater neighborhood and sold for $2.1 million, after having recently been renovated by the seller.
Greystone Provides Freddie Mac Loan for Affordable KC Asset
Keith Hires, managing director in Greystone’s Atlanta office, obtained the acquisition loan for Alcazar Apartments, a 142-unit community in the southern part of the city.
Nonprofit Breaks Ground on MN Affordable Housing
Developed by Aeon, The Louis will add 70 units near the Prospect Park neighborhood. A quarter of the apartments will serve residents earning 30 percent of the area’s median income.
On the Market: 5 Interesting Listings for the Week of 8/17
This week’s list of properties includes a high-end community in Oakland, Calif.; a vintage asset in the Detroit metro area; and an under-construction mid-rise in Jamaica, N.Y.
Indianapolis Mixed-Use Gets $104M
HFF arranged the floating-rate loan for Flaherty & Collins Properties, which used the proceeds to retire construction debt. Heitman originated the loan on behalf of an affiliate.