Midwest
DEAL OF THE DAY: Arbor Closes $17,882,500 Fannie Mae Loan at 5.68% Interest
Fairview Heights, Ill.–Arbor Commercial Funding LLC recently funded a $17,882,500 loan under the Fannie Mae DUS product line for the 252-unit complex Longacre Ponds in Fairview Heights, Ill.
Downtown Chicago Apartment Fundamentals Strengthen
Chicago-Apartment fundamentals in downtown Chicago will probably strengthen in the near future.
Mixed-Use Tower, Containing 198 Luxury Apartments, Opens in Chicago
Chicago–Flair Tower is located at 222 W. Erie St. in the large arts district of River North in Chicago.
DEAL OF THE DAY: Hendricks & Partners Closes on $4.6M Sale
Hendricks & Partners brokered the $4,600,000 sale of the 268-unit Alpine Lake, located at 665 North Alpine Lake Drive.
Ohio Apartment Complex to Be Refurbished with Recovery Act Funding
An aging affordable housing complex in Warren, Ohio is the first federal stimulus redevelopment project in the country to access Recovery Act funding from the U.S. Treasury’s Housing Finance Agency Initiative.
Michigan Apartment Owner Markets Through Social Media Entertainment
Final Five Productions, a video production and social media marketing company, has created a series of on-line videos for Urbane Apartments, a suburban Detroit apartment owner.
Steven Easton Honored for Contributions to Real Estate Management
Chicago—The Institute of Real Estate Management (IREM) Foundation, a nonprofit 501(c)(3) public foundation, recently honored IREM faculty member Steven K. Easton, CPM, of St. Petersburg, FL, with its Lloyd D. Hanford Sr. Distinguished Faculty Award. The Hanford award is presented periodically to a member of the IREM faculty who has shown extraordinary dedication to the educational process and the advancement of knowledge in the real estate management profession. It commemorates the direct contributions of Lloyd D. Hanford, Sr., a founder of the IREM real estate management education program. Easton is the founder of Easton Realty, a full-service real estate company…
DEAL OF THE DAY: HFF to Market 428-unit Illinois Apartment Community
The Chicago office of HFF (Holliday Fenoglio Fowler LP) has been named to market The Lakes of Schaumburg, a 428-unit community in Schaumburg, Ill.
MARKET SNAPSHOT: Absorption and Rent Growth in St. Louis Increasingly Steadily
The closing of Chrysler’s Fenton plant and the acquisition of Anheuser-Busch by InBev led to mass layoffs in St. Louis. Despite a seemingly doom-and-gloom economy, however, the Gateway City’s apartment market has seen an improvement in occupancy rates over the last year.
DEAL OF THE DAY: NorthMarq Arranges $13.11M Mortgage for East Side Portfolio
NorthMarq recently arranged first mortgage financing of $13.111 million for the East Side Portfolio.