Midwest
New Chicago Loop Apartment Building Becomes Temp Corporate Housing
Chicago–Oakwood Worldwide, a temporary housing specialist, has obtained a master lease for a new 42-story downtown Chicago apartment building.
Morgan Stanley and National Equity Fund Create $100M Natural Disaster Fund
The Rebuilding Local Economies Fund is designed to support economic recovery in 13 States by accelerating rebuilding and creating jobs.
Work Begins on Conversion of Randolph Tower to Apartments
Chicago–When restoration is complete, Village Green’s Randolph Tower City Apartments will be a mixed-use, 45-story historic high-rise including 313 rental units.
MARKET SNAPSHOT: Investor Interest Picks Up in Milwaukee Due to Strong Fundamentals
Milwaukee–In Milwaukee, there has been a tremendous amount of interest from local and regional buyers in multifamily assets of 150 units or more.
The Smooth Expansion from Apartments to Extended-Stay Hotels
Witchita, Kan.–In the commercial real estate world, the multifamily market and the lodging market are essentially two different animals, but they don’t have to be. Nick Esterline, a Wichita, Kan.-based real estate owner and developer, has found that there are similarities between apartments and extended-stay hotels, that can allow owners of the former property type to easily make a foray into the latter sector.
Ripple Effects of the Joplin Tornado on Surrounding Communities
Yarco Company’s Robert Schock shares with MHN some of the indirect human costs that are taking shape as people start to pick up the pieces shredded by the recent storms.
TODAY’S DEALS: Lee & Associates Moves 15-Unit Apartment Building for $2.5M
Lee & Associates sells a 15-unit apartment building for $2.5 million; Waterton Residential purchases 509 condo units at Lansbrook Village in Palm Harbor, Fla.; and Tikijian Associates handles the sale of a 88-unit property in Mooresville, Ind.
Tornados Continue to Tear Apart the Midwest
Violent tornados ripped up parts of the central United States last night, killing at least 15 people in Oklahoma, Arkansas and Kansas.
MARKET SNAPSHOT: Investor Interest Increases in Louisville, Ky. Apartments
Louisville, Ky.–Increasing investor interest has been noted lately in Louisville, with many out-of-state buyers seeking assets in the metro area.
TODAY’S DEALS: Kislak Brokers $27.3M Short Sale of Philadelphia High Rises
Kislak completes a $27.3M short sale, and NorthMarq arranges a seven-year Freddie Mac loan.