Midwest
CBRE Promotes Jeff Stingley to EVP
Based in Kansas City, Mo., Stingley has arranged $1.3 billion in multifamily sales during the past two years. He is the first professional in the history of the office to achieve this title.
Tikijian Closes 304-Unit Indianapolis Community
SL Systems LLC purchased the asset and plans to renovate the exterior and upgrade the unit interiors. The community was 95.7 percent occupied as of September.
Kiser Group Brokers Uptown Chicago Community Deal
The sale of the 41-unit property closed at $4.9 million. The asset is a 1920s vintage building consisting mostly of studio apartments.
REVA Development Opens Luxury IL Community
Located near suburban Chicago’s Deer Park Town Center, the property features a combination of mid-rise flats and rental townhomes, totaling 236 units.
Passco Nabs 5th Property in KC Metro Area
Greenwood Reserve, a 228-unit luxury community in Olathe, Kan., traded for $38.3 million. Jeff Stingley of CBRE represented both the buyer and the seller, an affiliated entity of Cityscape Residential. Chris Black and Caleb Marten of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing through Fannie Mae.
Grandbridge Closes Indianapolis Community Refi
The 493-unit community is situated on the campus of Indiana University–Purdue University Indianapolis. Grandbridge placed the refinancing with Ladder Capital Finance.
Pillar Refinances 2 Indianapolis Communities
The $23.3 million in Fannie Mae loans will pay for green property improvements at Echo Ridge and English Village, two communities located on the southeast side of the city.
Twin Cities Affordable Housing Portfolio Sells for $77M
Investors Aeon, the NOAH Impact Fund and Enterprise Community Investment purchased the 10 properties. The apartments will continue to welcome low-income renters.
Marcus & Millichap Closes $37M WI Community Deal
The portfolio comprises two properties, totaling nine buildings and 420 units, both of which present value-add opportunites and are located in high-profile areas in Madison, Wis.
Affordable NC Property Lands Fannie Mae Financing
Working on behalf of IPI Properties 11, a partnership between Berkeley Point Capital and Dougherty arranged a $1.2 million acquisition loan for Barden Ridge Apartments, a 48-unit community in Roxboro.