Midwest
California REIT Buys Kansas City Apartments
Steadfast Income REIT Inc. has acquired Library Lofts East in Kansas City, Mo., for $12.75 million. The property is a 118-unit historic loft conversion in downtown, an area that has been renovated extensively in the past decade.
Solhem Companies and TE Miller Developing 213-unit Community in Seven Corners
Twin Cities-based Solhem Companies and TE Miller Development have teamed to develop 7west, a 213-unit apartment complex situated in Minneapolis’ vibrant neighborhood of Seven Corners, near the University of Minnesota.
Circumspex Signs On Again as an IREM® Industry Partner
The Institute of Real Estate Management (IREM®) announced that Circumspex LLC has become a 2013 IREM® “Industry Partner,” continuing the mutually rewarding relationship between the two organizations that was formalized in 2011.
McKinley and Avanath Capital Launch New Partnership
Albert M. Berriz, CEO McKinley, Inc. and Daryl J. Carter, founder, chairman and CEO of Avanath Capital Management, jointly announced the launch of “mckinley – avanath” a residential property management enterprise created to manage apartment home communities acquired by Avanath for its various investment platforms, as well as assets owned by institutional partners and clients.
Cohen Real Estate Marketing 3.38-Acre Multifamily Development Site Outside Twin Cities
Manhattan-based Cohen Real Estate is marketing a 3.38-acre development site just outside the Twin Cities in Edina, Minn., which is zoned for multifamily residential, senior housing, medical or retail.
IREM Kicks Off Year-Long 80th Anniversary Observance
The Institute of Real Estate Management recently launched a year-long observance of its 80th anniversary.
Construction Slated to Begin on $148M Joint Venture
Construction will begin later this year on a $148 million luxury community in Evanston, Ill. The project, which was recently approved by the Evanston City Council, was proposed by a joint venture between developers Fifield Cos. and Carroll Properties.
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.