Midwest
Cush & Wake Secures $40M Loan for Nashville-Area Community
Middleburg Real Estate Partners plans to build a 328-unit apartment property in Franklin, Tenn. Mike Ryan, Telly Fathaly and Brian Linnihan of Cushman & Wakefield’s Atlanta team originated the senior debt as well as the joint venture equity.
High Street Residential Opens Foundry Lake Street
The Class A community is 54 percent leased and 45 percent occupied. Foundry on Lake Street features 5,000 square feet of indoor restaurant space.
Renovated Downtown Nashville Community Trades for $27M
A Covenant Capital Group fund sold the 170-unit 500 Fifth Ave. The deal follows a $4 million renovation process the firm completed at the 56-year-old building.
Marcus & Millichap Lists $31M Student Housing Community
The company received the exclusive listing for 512 South Third St., a 400-bed student housing community within walking distance of the University of Illinois’ main campus.
Covenant Buys $30M Indianapolis Community
Columns of Castleton was 99.5 percent occupied as of June. The company plans to implement a $4.7 million plan for renovating unit interiors and upgrading amenities.
Chicago’s Aurélien Ready for Residents
Ryan Cos. completed the 31-story, 368-unit luxury tower some two years after it broke ground on the high-rise project. The cost of the development reached $100 million.
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.