Midwest
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.
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.