Midwest
Affordable Senior Community Opens in Richmond, IL
The 25-unit community offers one- and two-bedroom apartments for $866 and $1,039, respectively, and is Energy Star Certified.
Michigan Ave. Tower Scores $150M Refi
MILA, an upscale 402-unit property in Chicago’s East Loop, was developed by a joint venture led by John Buck Co. Proceeds will refinance the construction loan.
Passco Trades Remaining Interest in KS Property for $48M
The company sold The Village at Lionsgate, a 360-unit community in the Kansas City MSA. Mac Crowther, vice chairman at ARA Newmark’s Kansas City office, represented both parties in this transaction.
Cordish Tops Off $120M MO High Rise
Scheduled to open in 2018, the 296-unit Two Light is the second new construction high-rise apartment building in downtown Kansas City in the last 50 years.
Berkadia Leads Sale of 192-Bed Kansas Community
The company arranged the $6.9 million sale on behalf of the seller. The 84-unit student housing property services Butler Community College.
$14M Affordable Housing Opens in Chicago
A joint venture has opened Harvest Homes, the first new housing of this type to be built in the East Garfield Park neighborhood in more than 30 years.
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.