Midwest
TODAY’S DEALS: NorthMarq Capital Advances $17.9M Refi Loan on Behalf of Life Insurance Company
NorthMarq Capital arranges first mortgage financing; a site next to the 10th fairway of the Hamlet Wind Watch Golf Club has been listed for $12 million; and Berkadia Commercial Mortgage originates $6.3M refinancing.
JP Morgan Buys Chicago Multifamily Trophy Property for $182M
Chicago–J.P. Morgan Asset Management will take a majority stake in the 87-story Aqua, a mixed-use development in downtown Chicago.
TODAY’S DEALS: Essex Realty Group Brokers Sale of Multiple Apartment Buildings in Chicago
Chicago–Essex Realty Group Inc. announced the sale of multiple apartment buildings on the South Side of Chicago.
Thomas Secures Idaho’s First LEED for Homes Platinum Certifications
Thomas Development Co. obtained LEED for Homes Platinum certification for its new Rosslare Senior Apartments and Cardona Senior Apartments properties.
DEAL OF THE DAY: Oak Grove Capital Closes $7.2M HUD 223(f) Refinancing Loan
Shakopee, Minn.–Oak Grove Capital provided $7.2 million in funding for White Pines Apartments. The HUD MAP 223(f) refinance was for a repeat borrower.
McCaffery Begins Marketing for Ambitious Chicago Lakeside Development
Chicago–McCaffery Interests Inc. has kicked off the marketing of Chicago Lakeside Development L.L.C. by opening a 2,000-square-foot marketing center on the site of the development.
Stimulus Funds Help Kick Off Affordable Senior Housing Project
Waukegan, Ill.–The assistance of federal stimulus funds allowed Banner Apartments to begin constructing The Residences at Fountain Square outside Chicago.
DEAL OF THE DAY: NorthMarq Arranges $37M Mortgage for Two Phases of Apartment Project
Overland Park, Kan.–NorthMarq Capital has arranged first mortgage financing of $37 million for Stonepost Apartments.
DEAL OF THE DAY: Berkadia Originates $25,230,600 in Fixed-Rate Debt for Chicago Multifamily Property
Chicago–Berkadia Commercial Mortgage originated $25,230,600 in fixed-rate debt through its FHA/HUD program for the refinance and additional construction of Long Grove House, a multifamily property in Chicago.
MARKET SNAPSHOT: Consistency Remains Milwaukee’s Greatest Strength
Milwaukee–A modest pricing correction of single-family home has maintained renter demand in Milwaukee, according to the most recent report by Marcus & Millichap.