Midwest
Dougherty Closes Cleveland Portfolio Loan
The Fannie Mae loan will refinance six market-rate properties, totaling 238 units. Dougherty’s Minneapolis office arranged the financing for borrower Central Real Estate Holding.
Population Growth Sustains Demand in Nashville
The city is slowly diversifying its economy, venturing from reliance on the entertainment industry. In response to the growing demand, developers are ramping up construction, with more than 13,000 units underway as of July.
Dougherty Mortgage Closes $32M Loan for MN Community
The financing will be used to build Union Flats, a 217-unit affordable housing property in St. Paul. The community will be built on a site currently occupied by the Hunt Electric Corp. building.
American Campus Nabs $561M Student Housing Portfolio
The seven-property portfolio includes two existing communities, two communities slated to open this fall and three projects scheduled for delivery in Fall 2018.
Strong Demand Augments Twin Cities Occupancy
The metro’s healthy economic growth, low unemployment rate and strong multifamily fundamentals continue to attract investors and developers to the region.
Thrive Acquires 2 Senior Housing Properties, Launches Sister Firm
The acquisition expanded the company’s senior housing portfolio to four assets, which drove the firm to launch a new division—TFP Senior Living—headed by Anthony Fulco.
Marcus & Millichap Secures Saint Paul Asset
Located between downtown St. Paul and downtown Minneapolis in the Merriam Park neighborhood, 1880 Marshall Ave. was built in 1964 and renovated in 1978.
JV Lands $40M Twin Cities Affordable Community
Aeon and The Community Development Trust purchased Seasons Park Apartments, a 422-unit community in Richfield, Minn. The transaction marks Aeon’s largest acquisition and the second-largest investment for CDT.
Fifield Fetes Grand Opening of The Sinclair in Chicago
The luxury rental community adds a large slate of upscale units to Chicago’s Gold Coast neighborhood, spurring talk of a resurgence.
JV Breaks Ground on Upscale Dayton-Area Apartments
Mills Development and Hills Properties began work on a 312-unit community adjacent to Cross Pointe Shopping Center in Centerville, Ohio. The project will be known as Allure Luxury Apartments.