Midwest
The Praedium Group Invests $90M in TX, FL
“The real estate investment firm added 530 units to its multifamily portfolio by acquiring the 288-unit Fox Hill Apartments in Austin and the 242-unit Park Place at Maguire in Orlando.
Marcus & Millichap Closes on Illinois Multifamily Sale
The community is located in Mount Prospect, Ill., and consists of three 14-unit buildings. The units offer a mix of one- and two-bedroom layouts of 650 and 850 square feet respectively.
Strawberry Fields Refinances TN Skilled Nursing Facilities
The $27.2 million HUD guaranteed loans from Capital One Multifamily Finance have a 35-year term at a 3.43 percent fixed interest rate. The REIT acquired the three properties last year.
St. Louis Gears Up
Despite a slowly declining population, the city continues to see positive economic trends driven by job gains in education and health services, leisure and hospitality, and professional and business services.
Greystone Provides $79M FHA Loan for Michigan Portfolio
The portfolio includes both market-rate and affordable housing communities that will be renovated using the funds. Most of the properties are owned by the Altman Cos.
Senior Affordable Community Comes Online in Huntsville
Stratus Development LLC developed the 60-unit property, which is restricted to residents who are 55 or older and earning 60 percent of the area median income or less.
Oklahoma’s Largest Community Changes Hands
ARA Newmark closed the $60.5 million sale of Brookwood Village, a 1,128-unit property in suburban Oklahoma City. Weidner Apartment Homes purchased the asset from Case & Associates.
OakPoint Lands Nashville-Area Luxury Community
Homestead Rental Properties sold The Luxe at Indian Lake Village, a 94-unit property in Hendersonville, Tenn. This marks OakPoint’s fourth recent midstate acquisition.
Construction Kicks Off at Chicago’s Wolf Point East
The 60-story, 698-unit luxury apartment tower represents the second phase of the Wolf Point master plan, a three-phase project built by Hines along the Chicago River.
CAPREIT Acquires Memphis-Area Apartments
The 430-unit Legacy Crossing comprises one-, two- and three-bedroom affordable apartments ranging from 711 to 1,063 square feet. The company plans on making upgrades to the units.