Midwest
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.
MARKET SNAPSHOT: Absorption in Cincinnati Expected to Reach 14-Year High as Manufacturing Booms
The City of Seven Hills is witnessing a surge in manufacturing positions that is translating to heightened employment overall and a sustained demand for rental units.
Dominium Celebrates 40th Anniversary
Dominium, an apartment development and management company announced that it is celebrating its 40th anniversary.
McKinley’s Alexandra S. Jackiw, Managing Director, Residential Client Services Assumes Helm of National Apartment Association
McKinley’s CEO Albert M. Berriz announced that Alexandra S. Jackiw assumed the helm of the National Apartment Association (NAA) as its Chair of the Board last week during the NAA 2012 Assembly of Delegates.