Midwest
Detroit: Far From Singing the Blues
Despite numerous headwinds, the city is gamely bouncing back, thanks to concerted efforts by public and private sources to bring commerce and households back to the area.
Strategic Management in Downtown Detroit
After more than 20 years, Broder & Sachse ended most of its third-party property management contracts to concentrate mostly on property development. CEO Rich Broder discusses company’s strategy and the state of multifamily in the Detroit area.
HPI Snags Memphis-Area Community
The 400-unit Annandale Gardens comprises one-, two- and three-bedroom floorplans. This marks the second acquisition of HPI Real Estate Fund V.
WTC Secures $70M for Suburban Chicago Property
The company obtained construction and permanent financing for the 301-unit residential component of Wheeling Town Center, a mixed-use development.
Indianapolis: Full Speed Ahead
Demand for apartments continues to be strong, thanks to the locale’s relative affordability. The city’s high-quality education system and skilled workforce attract residents and employers, propelling economic growth.
Interra Closes on Chicago Multifamily Deal
The 43-unit property located in Rogers Park changed hands for $3.9 million. In addition to the residential units, the building offers 1,200 square feet of office space.
Midtown Detroit Gets New Mixed-Income Community
Nonprofits Develop Detroit and Preservation of Affordable Housing partnered for the $32 million development that will also include retail space. Project design will be led by Phil Freelon, design director at Perkins+Will.
Berkadia Secures $23M Loan for Chicago-Area Assets
Ridge Garden Apartments and Indian Trails Apartments, two affordable multifamily properties in the greater Chicago area, will undergo capital improvements.
Leasing Starts at New Chicago Mixed-Use
JDL Development’s SixForty, located in the River North neighborhood, includes a 23-story tower with 250 units and 8,000 square feet of retail.
Kiser Group Negotiates $12M Chicago Multifamily Deal
The sale of the 80-unit property marks the highest price per unit—$144,000—for a four plus one asset north of Irving Park Road.