Midwest
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.
Top 10 Columbus Multifamily Transactions
The city is quickly becoming the most important economy in Ohio, thanks to its relatively affordable housing and growing economy. This year, more than 2,000 units traded for a total of $266 million.
Timberland Partners Sells Omaha Community
Vukota Capital secured a $24.7 million bridge loan to acquire and renovate Legacy Crossing, a 408-unit garden-style property in the city’s North Central submarket.
Grandbridge Real Estate Lands $22M for SD Project
The upcoming student housing community will feature nearly 500 beds and will be serving the University of South Dakota, located within walking distance.
Record Supply Takes Its Toll in Detroit
The high number of multifamily units completed in 2017 moderated rent growth, which nevertheless continues to outpace the national average.