Midwest
Dominium Promotes Owen Metz as Developer
Dominium, an apartment development and management company, announced that it has promoted Owen Metz as developer at its corporate office in Plymouth, Minn.
The Donaldson Group Acquires Va. Property for $107.5M, Plans $5M Renovation
The Donaldson Group and its equity partner Angelo, Gordon & Co. have acquired Rolling Brook Village, a multifamily community in Woodbridge, Va., for $107.5 million.
Arbor’s FHA Lending Group Accelerates Expansion with Hiring of Matthew Carey, VP of FHA Lending
Arbor Commercial Mortgage LLC, a national direct commercial real estate lender, has further expanded its multifamily and seniors/healthcare lending capabilities under the HUD/FHA loan programs with the appointment of Matthew Carey as vice president of FHA lending in the company’s Cleveland office.
Irongate Acquires $98.65M Portfolio
GFI Capital Resources, investing through its Irongate Realty Partners brand, has acquired three class A communities in Kansas City, Kan., for $98.65 million.
TODAY’S DEALS: Mckinley Completes Third Ann Arbor Apartment Acquisition for 2012
McKinley purchases 120-unit community in Ann Arbor, Mich., and now owns more than 5,400 units in the region; and Johnson Capital arranges sub-4 percent, $14 million, refinance loans from bank that beat agency terms.
Fifield Companies Sells Chicago Community for $302M, Begins Work on New Luxury Development
In a joint venture, Fifield Companies and Pacific Life Insurance Co. have announced they have sold an 848-unit multifamily community in Chicago to REIT Morguard Corp. for $302 million. This marks the highest amount paid for a Chicago apartment tower since May 2011.
Tricap Acquires Ohio Community for $8.3M
Tricap recently announced it has finalized the acquisition of Residences at Sawmill Park, a community in Columbus, Ohio.
Boston Capital Invests in Wisconsin Affordable Apartment Rehabs
A pair of Wisconsin affordable apartment communities, Gilbert Court Apartments in Elkhorn and Havenwood Apartments in Lake Geneva, will be rehabilitated, thanks to an investment by Boston Capital.
Downtown Cleveland Property Wins Preservation Prize
Saint Luke’s Manor in Cleveland recently won the National Trust/HUD Secretary’s Award for Excellence in Historic Preservation.
Harbor Group Makes $10M Equity Investment in Apartment Portfolio
Harbor Group International LLC has made a $10 million preferred equity investment in a multifamily portfolio in northwest suburban St. Louis. The portfolio consists of four properties totaling 1,447 units.