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Crossroads Westside in Kansas City, Missouri
Investment SalesMidwestMissouriNews

Hamilton Zanze Acquires 222-Unit Crossroads Westside in Kansas City

by Channing Hamilton

KANSAS CITY, MO. — San Francisco-based investment firm Hamilton Zanze has purchased Crossroads Westside, a 222-unit community in downtown Kansas City, for an undisclosed price. Situated at 601 Avenida Cesar E Chavez, Crossroads Westside was built in 2018. Units come in one- and two-bedroom layouts and range from 614 square feet to 1,252 square feet. Amenities include a pool, dog spa, fitness center, sundeck, private art garden, business center, co-working spaces, fire pit, arcade and entertainment lounge. Mission Rock Residential, an affiliate of Hamilton Zanze, has assumed management of the …

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OC Living in Chicago
DevelopmentIllinoisMidwestNews

Habitat Opens First Apartment Building at $200 Million Mixed-Use Development in Chicago

by Channing Hamilton

CHICAGO — Locally based developer and property manager Habitat has opened OC Living, the first residential community at Ogden Commons, a $200 million mixed-use development in Chicago’s North Lawndale neighborhood.  Located at 1325 S. Washtenaw Ave., OC Living consists of one four-story building housing 92 units across four stories. Ninety percent of apartments are set aside as affordable housing. Income restrictions for these units were not disclosed. The unit mix includes 23 studios, 60 one-bedroom units and nine two-bedroom apartments. Community amenities include a rubber-surfaced children’s lot with play structures, …

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Investment SalesMidwestMissouriNews

Thompson Thrift Sells 316-Unit Avenue64 Near St. Louis

by Channing Hamilton

O’FALLON, MO. — Thompson Thrift has arranged the sale of Avenue64, a 316-unit community in the St. Louis suburb of O’Fallon. Bonaventure Holding Co. purchased the asset for an undisclosed price. George Tikijian, Hannah Ott and Matt Bukhshtaber of CBRE brokered the deal. Avenue64 spans 17 acres at 1000 Watermark Drive. The community features one-, two- and three-bedroom floor plans. Amenities include a fitness center, pool with cabanas and entertainment areas, bark park and pet spa. Avenue64 was constructed in 2023. The property was 95 percent occupied at the time …

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VER at Proscenium in Indianapolis, Indiana
DevelopmentFinanceIndianaInvestment SalesMarket ReportsMidwest

No Longer ‘Flyover’ Country: Indianapolis Achieves Positive Rent Growth, Absorption

by Channing Hamilton

The capital markets continue to present challenges and create confusion across the U.S. transaction space. Most markets outside the Midwest have retreated toward a rent-growth flatline, or worse. However, in the midst of it all, the metro area stands like a pillar of stability. No longer known simply for its manufacturing prowess, Indianapolis boasts a long list of economic strengths. These include a diverse, sustainable and growing employment base; predictable fundamentals, including controlled levels of supply; a forward-thinking investment in infrastructure; and a growing base of capital. These capital sources, …

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Highline Apartments in Omaha, Nebraska
FinanceMidwestNebraskaNews

Colliers Mortgage Provides $29.9 Million Refinancing for Highline Apartments in Omaha

by Channing Hamilton

OMAHA, NEB. — Colliers Mortgage has provided a $29.9 million Fannie Mae loan for the refinancing of Highline Apartments, a 306-unit complex in Omaha. Brett Olson and Jeff Witt of Colliers Mortgage originated the 10-year loan, which features interest-only payments for the full term. Highline Apartments consists of two buildings connected by a covered parking garage. Community amenities include rooftop decks, basketball courts, a business center, fitness center, outdoor pool and clubhouse.

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The Perch PDX in Portland, Oregon
Affordable HousingDevelopmentFeaturesFinanceMidwestNevadaNortheastSoutheastTexasWestern

Industry Says Biden’s Proposed Rent Cap Would Punish Tenants

by Channing Hamilton

WASHINGTON, D.C. — The Biden administration has called on Congress to pass rent-control legislation that would affect more than 20 million rental homes across the country. Under the proposed rule, landlords with more than 50 units in their portfolios would forfeit federal tax breaks if they raise rents annually more than 5 percent on their existing units.  If passed, this rule would be in force beginning this year and would last through 2026. The plan would include an exception for new construction and for units currently undergoing substantial renovation or …

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Industry VoicesMidwestNortheastOperationsSoutheastTexasWestern

Property Managers Need a Holistic Approach to Prop Tech to Streamline Operations

by Channing Hamilton

— By Mike Branam, director of multifamily, PointCentral Renters increasingly desire smart technology features and personalized automation that can save time, money and improve property security. A 2022 survey from Rent.com reported that a staggering 82 percent of renters wanted at least one smart device in their home.  This has encouraged property owners and operators to invest in technology as part of a wider strategy to both attract and retain a resident base that is a good fit for their communities. Technological advancements such as artificial intelligence (AI), as well …

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DevelopmentIndianaMidwestNews

Flaherty & Collins Properties Opens Phase II of The Arbuckle Apartments Near Indianapolis

by Channing Hamilton

BROWNSBURG, IND. — Flaherty & Collins Properties has opened Phase II of The Arbuckle Apartments in the western Indianapolis suburb of Brownsburg. The community is located at 7240 Arbuckle Commons. The first phase of the property was constructed in 2018 and offers 310 units ranging in size from studios to two-bedroom townhomes. According to the property website, the second phase brings approximately 100 more apartments to the community.

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Waldo District in Kansas City, Missouri
DevelopmentFinanceMidwestMissouriNews

JLL Capital Markets Arranges $12.7 Million Equity Investment for Waldo District in Kansas City, Missouri

by Channing Hamilton

KANSAS CITY, MO. — JLL Capital Markets has arranged a $12.7 million equity investment for the construction of Waldo District in the Waldo neighborhood of Kansas City. JLL worked on behalf of the borrower, EPC Real Estate Group, to secure the equity investment with a national fund manager. Mark Erland and Kevin Barron led the JLL Capital Markets team. Atlanta-based architect BRR designed the community. Waldo District will comprise 284 units across six stories. Community amenities will include a clubhouse, media area with wine lounge, golf simulator and e-sports, fitness center, …

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Oxenfree at WeHo in Nashville, Tennessee
Build-to-RentFeaturesMidwestNortheastSoutheastTexasWestern

Strong Tenant, Investor Demand Ensures Build-to-Rent Model Is Here to Stay

by Channing Hamilton

Empty nesters and millennials with children are increasingly drawn to new subdivisions of build-to-rent (BTR) houses for lifestyle and financial reasons. These professionally managed BTR homes come in many shapes and sizes.  For a growing family, a new three- or four-bedroom rental house might be the ideal fit. Renters who don’t need a lot of space, but who value private parking and a modest backyard, can move into a one- or two-bedroom cottage-style home.  These properties provide more living space and privacy than a typical apartment and at a more …

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