Midwest
BGL Completes Financing for Cleveland Waterfront Community
The independent investment bank advised The Landmark Cos. on the acquisition of Quay 55, a historic building that will undergo an ample transformation process and rebranding.
Monument Capital Management Enters Illinois Market
The Residences at 1550, located in the Chicago suburb of Mount Prospect, include 509 one-, two- and three-bedroom garden- and townhome-style units. The property will be managed by the firm’s sister company, Monument Real Estate Services.
St. Paul Eyes 135-Acre Urban Village
A rezoning plan calls for as many as 4,000 residential units on a site owned by Ford, which is expected to be put on the market by early 2018.
Steady Growth Cultivates Building Boom in Columbus
The multifamily market is expanding in the area, which has been an economic standout in Ohio and the Midwest. The metro’s tight labor market is lifting average wages, attracting more residents and bolstering demand for apartments.
TH Real Estate Acquires 2 for $93M
The Minneapolis communities, near the University of Minnesota, include the 101-unit The Knoll and the 210-unit The Bridges.
Development Boom Tempers Rent Growth in Chicago
The city has seen costs moderate, in keeping with the nation as a whole, and features a bifurcation between luxury and working-class units.
JVM Brings Improvements to IL Property
The Aventine at Oakhurst North, a 464-unit community in Aurora, Ill., features an entirely renovated clubhouse. Several other interior and exterior upgrades are underway.
West Side Chicago Welcomes New Affordable Housing
Harvest Homes will offer 36 two-, three- and four-bedroom units located at one contiguous site in East Garfield, Chicago. The total development cost was $12 million.
Chicago Student Housing Tower Changes Hands
University Center Chicago, acquired by AXA Investment Managers – Real Assets and Blue Vista Capital Management, totals 1,732 beds and is proximate to 22 universities.
Greystone Enters Michigan Market with New JV
The new joint venture with Commercial Property Advisors will focus on providing multifamily advisory services for clients in Michigan. Cary Belovicz will lead the new organization as an executive managing director.