Midwest
Former Corus Bank Portfolio on the Market
ST Residential has put a portfolio of 13 multifamily properties in eight states on the market.
HFF Arranges $25M in Acquisition Financing for Minneapolis Community
HFF has closed the sale of and arranged $25 million in acquisition financing for a 228-unit, mixed-use multifamily community in Minneapolis to KBS Legacy Partners Apartment REIT Inc.
Haley Real Estate Group Announces $8M Renovation for Oklahoma Community
Omaha, Neb.-based Haley Real Estate Group announced they are investing $8 million to renovate Park Place, an apartment community in Oklahoma City, Okla.
New High-Tech Dry Cleaning Amenity is Unveiled to Apartment Market in Detroit
In keeping with the innovative nature of previous ventures, nationally recognized dry cleaning entrepreneur Wayne Wudyka recently unveiled his new “bizzie” at an event at the Farbman Group’s Lofts @ Woodward Center in downtown Detroit, Mich.
MSHDA to Build New Senior Development in Michigan Suburb
Michigan State Housing Development Authority will open The Lake Pointe Apartments, a planned $4.2 million affordable housing development for seniors in downtown Hart, Mich.
MARKET SNAPSHOT: Cleveland Sees Best Annual Employment Growth Since 2000, Tightening Vacancies
While vacancy in the Forest City has been falling steadily since 2009, mostly due to lack of new supply, a similar trend in unemployment has taken a bit longer to materialize.
Marcus & Millichap Lists 128-Unit Indiana Community
Marcus & Millichap Real Estate Investment Services are marketing the sale of Embassy Place Apartments, a Class A community in Highland, Ind. The seller is a Northwest Indiana-based builder and the original developer of the property.
Equity to Sell $1.5B Portfolio
Equity Residential has unveiled a major deal to sell $1.5 billion worth of multifamily properties to a joint venture of Goldman, Sachs & Co. and Greystar Real Estate Partners. The transaction will involve 27 properties in various parts of the country.
SoNo Sale in Chicago Closes
SoNo East, a new 22-story apartment tower with ground-floor retail at 840 West Blackhawk St. in Chicago, has traded hands. In 2011, Prudential Real Estate Investors agreed to purchase the property upon completion from Smithfield Properties, and now the deal has been done for an unspecified price.
The Enclave Gains an Annex in Suburban Milwaukee
As the charming, old-line community on Milwaukee’s western doorstep, Wauwatosa, Wis., savors an enviable distinction. That made it an appealing location for The Enclave, a 152-unit luxury apartment community that opened last year, and The Annex @ Enclave, a 40-unit extension of The Enclave.