Midwest
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.
Health Care, Tech Drive Growth in Indianapolis
The pool of talent coming from local universities, along with a reasonable cost of living and doing business, continues to attract residents and employers to the area, boosting multifamily demand.
Solid Supply Impacts Occupancy in St. Louis
St. Louis continues to be one of the most affordable markets in the U.S. However, workforce housing is lacking and inventory expansion is placing pressure on occupancy.
CA Ventures Opens Chicago South Loop Community
The 320-unit Eleven40 bears the signature of designer SCB, with interiors by BKV Group. The community is currently 85 percent occupied.
Mixed-Income Development Receives City Council Approval in Detroit
Bedrock Detroit and Woodborn Partners will develop a 900-unit residential neighborhood on the former Frederick Douglass public housing site, one of the largest vacant properties in the city.