Midwest
Hubbard Street Group Develops Luxury Chicago Property
Fields Lofts, underway in the former Marshall Field’s warehouse in Logan Square, will include, will include a co-working space, a chef’s kitchen and 94 parking spaces.
BLVD Capital Acquires $26M Affordable Housing Portfolio
The two affordable housing properties in Chicago contain more than 300 units and are located near major highways and public transportation options.
Milhaus Plans Cincinnati Property
Poste is part of the 250 units the developer intends to start building in Walnut Hills this year. The company also announced a capital investment of $245 million for the development of Class A, market-rate properties across the country.
Balfour Beatty Breaks Ground on IN Student Community
The 387,000-square-foot Aspire at Discovery Park, the first phase of a $1.2 billion planned development near Purdue University, is expected to be complete in August 2019.
Multifamily Investment 2018: Use a Scalpel—Not a Machete—to Find Value
As value-add multifamily deals in primary markets continue to be rare finds, more investors are likely to seek yields in non-core locations this year, predicts Bryan Sullivan, vice president of acquisitions and development at The Habitat Co., in his MHN-exclusive industry outlook.
CBRE Secures $321M Portfolio Sale
The nine-property portfolio includes communities located in Indianapolis, Memphis, Tenn., Oklahoma City and Cincinnati, totaling 1,803 units. Milhaus developed, constructed and managed the majority of the portfolio.
CBRE Indianapolis Names New EVP
Starting his career at CBRE in 1994, Steve LaMotte led the Central Midwest Multifamily and has been involved in the sale of more than $3 billion of apartment product.
Champion Cos. Developing New Community in Columbus
The apartment community will contain 64 one- and two-bedroom units, and the developer plans to complete the first units by fall 2018.
2 MN Communities Land $5M Fannie Mae Loan
The 16-year term loan with a 30-year amortization schedule was arranged by Dougherty’s Minneapolis office on behalf of the borrower, Amorce II Limited Partnership.
Marcus & Millichap Partner Facilitates $16M Sale in MN
Mox Gunderson, Dan Linnell and Josh Talberg at Marcus & Millichap’s Minneapolis office, represented a local partnership in the sale of Tamarind Apartments, a 102-unit community in Saint Louis Park.