Midwest
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.
McCormack Baron Salazar Gains Two LEED-ND Certifications
St. Louis, Mo.–McCormack Baron Salazar has become the first developer to receive LEED for Neighborhood Development certification for two completed neighborhoods.
Post Investment Group Breaks Ground on Metro Little Rock Apartments
North Little Rock, Ark.–Construction has begun on Riverside at Rockwater, a 264-unit apartment property that is part of a mixed-use redevelopment on the site of a former industrial facility.
American Campus Communities and ISU Partner on $59.6M Student Apartment Project
Normal, Ill.–American Campus Communities Inc. and Illinois State University will break ground on Cardinal Court, an 896-bed student-housing community.
Summit Design + Build Hits Restart on Stalled Chicago Apartment Project
Chicago–Development of the luxury apartment building in Chicago’s Wicker Park neighborhood is back underway now that Summit Design + Build L.L.C. has stepped in and taken the construction reins.