Midwest
Trammell Crow Company Breaks Ground on Mixed-Use Development in Chicago North Shore Submarket
Trammell Crow Company, through its wholly owned subsidiary High Street ResidentialSM, has begun construction on Midtown Square, a four-story, mixed-use development in Glenview, Ill.
CBRE Sells Cincinnati Apartment Community for $2.6M
Four Towers at Ferguson Apartments has changed hands for about $2.65 million. The 156-unit Cincinnati property was acquired by an unspecified but locally based property owner; the seller, the heirs of the original developer, were represented in the deal by the CBRE Cincinnati-Indianapolis Multi-Housing Group.
The Habitat Company’s Hubbard Place Set for Early Autumn Opening
The doors to Hubbard Place, the newest Chicago luxury apartment community from The Habitat Company, are set to swing open on October 1.
MRI Software to Enhance Its VaultWare Reservation System’s Integration with Yardi
MRI Software announced today that it has signed an agreement with Yardi to create an officially supported integration between MRI’s VaultWare Apartment Reservation System and Yardi.
New Income and Expense Data for Conventional Rental Apartments Reported in IREM Benchmarking Study
Gross possible rents for the four conventional rental apartment types examined (elevator; low-rise with 12 to 24 units; low-rise with 25-plus units; and garden) rose within a range of 1.6 percent and 4.0 percent in 2012 versus 2011.
Former Medical Offices Might Become Apartments
Diversified Asset Management has acquired Highland Tower in Kansas City, Mo., which currently includes about 116,500 square feet of office space, though most of it is vacant. The new owners are exploring the redevelopment of the property into mixed-use building with about 300 apartment units.
McShane Construction Company Completes Renovation of Affordable Apartments in Chicago Neighborhood
McShane Construction Company has completed the comprehensive rehabilitation and renovation of the Borinquen Bella Apartments, located in Chicago’s Humboldt Park neighborhood, on behalf of the Latin United Community Housing Association.
Ocius Plants Trees to Entice Apartment Residents to Go Paperless
Ocius, a provider of resident billing and utility invoice processing services for apartment managers, announced a new program to encourage residents to receive their monthly statements via email.
RED Hires Jim Hensley to Head Origination Teams and Lead Expansion Efforts
Red Mortgage Capital LLC, the mortgage banking arm of RED Capital Group LLC announced the addition of James P. Hensley as a senior managing director to its senior management team.
TODAY’S DEALS: NorthMarq Arranges $23.25M Life Insurance Company Loan with Advance Rate Lock
NorthMarq Capital brokers first mortgage refinancing of $23.25 million for Woodlake Apartments in Gurnee, Ill.; and Los Angeles County apartment complex changes hands at $9.9 million.