Midwest
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.
Construction Underway on MN Senior Development
The Opus Group development in Minnetonka will feature four stories and 147 units. Amenities will include a salon, a chapel and a memory-care garden.
Hunt Mortgage Finances Acquisition of 202-Unit OH Property
Hamilton Real Estate Capital will use the $7.6 million Fannie Mae loan to purchase Sutton Square Apartments, a 29-building community in southeast Columbus.
Hunt Mortgage Provides Refi for 2 MI Affordable Properties
The $9.5 million investment in Joseph’s Run Apartments in Midland and Roxbury Court Apartments in Clio will be used to refinance both properties.
Draper and Kramer Breaks Ground on Boutique Community
The upcoming luxury building will be located on the last undeveloped site on North Lake Shore Drive, in Chicago’s Gold Coast neighborhood.