Midwest
Demand Pushes Twin Cities’ Occupancy to Top
Although investor appetite is high, deliveries haven’t kept up with demand. Roughly 6,700 units were underway late last year, mostly targeting high-income residents.
Supply Surge Dampens Rent Growth in Kansas City
The metro continues to attract large employers and consolidate its status as a destination for travel and investment. However, the multifamily development boom has led to a rent growth slowdown.
KeyBank Delivers $161M for Age-Restricted Portfolio
Structured in a variety of ways, the Fannie Mae funding refinances 13 age-restricted housing properties totaling 1,500 units in four states.
Venterra Acquires Nashville Apartments for $34M
The firm used a mortgage held by PNC Bank to finance the acquisition of the 171-unit community, which opened at the end of 2016.
Chicago Apartments Achieve LEED Gold
M&R Development’s The Residences of Wilmette, which has 75 units, opened in October. The property features a green roof with drought-resistant vegetation and environmentally kind flooring, paints and sealants.
Marcus & Millichap Arranges Sale of IL Prospective Development
Richard Kozarits, Tami Andrews, Joseph Sigal and Richard Lynn were all part of the team involved in the $7 million sale of parcels totaling 35,000 square feet. The land will be used to build The Albion at Evanston, a luxury community in Evaston.
Berkadia Facilitates $46M Loan for IA Student Housing
Senior Managing Director Peter Benedetto and Associate Director Aaron Moll, both of Berkadia’s Detroit office, arranged the bridge loan on behalf of The Tailwind Group.
Arrimus Capital Acquires IA Luxury Student Housing
Stadium View, adjacent to Iowa State University in Ames, includes 197 units and 518 beds. The property is currently 99 percent leased.
Kiser Group Brokers Chicago Community Deal
The firm’s Principal & Managing Broker Lee Kiser together with Broker Associate Rick Ofman represented the seller in the $3.6 million transaction.
CapStack Increases Nashville Footprint
The firm teamed up with MACC Venture Partners to acquire three garden apartment communities totaling nearly 500 units across the city.