Midwest

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DevelopmentMidwestNewsOhio

Vision Cos. Buys Land for Ohio Development to Serve Office Park Workers

by Lynn Peisner

KETTERING, OHIO — Vision Cos. has acquired a 28.5-acre parcel located within the Miami Valley Research Park in Kettering, about eight miles southeast of Dayton, Ohio. On this land, the buyer plans to develop VC Flats, a community with 264 units housed within nine three-story buildings. The property is adjacent to the 36-acre Sixth River Office Park owned by Industrial Commercial Properties. A multifamily development is included in the Sixth River master plan and is meant to provide housing options for the approximately 4,400 employees working within the office park. …

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Harlow-on-Main-Columbus
Investment SalesMidwestNewsOhio

Abide Capital Group, MCB Buy Harlow on Main in Columbus, Ohio

by Lynn Peisner

COLUMBUS, OHIO — Abide Capital Group and MCB Real Estate have acquired Harlow on Main, a 120-unit asset in Columbus for $16.5 million. WesBanco provided acquisition financing. Newmark arranged the transaction, representing the undisclosed seller. The project was developed in 2020 by Homestead Cos. The asset was approximately 86 percent leased at the time of the sale. Harlow on Main includes 7,000 square feet of ground-floor retail.

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The-Malt-House-source-Midloch-Investment-Partners
Investment SalesMidwestNewsWisconsin

Midloch Investment Partners, Hempel Real Estate Acquire The Malt House in Milwaukee

by Lynn Peisner

MILWAUKEE — Midloch Investment Partners has acquired The Malt House in Milwaukee in a joint venture with Hempel Real Estate for $19.2 million. Brad Smith, Jack Maloney and Anna Lovell of Cushman & Wakefield in Chicago arranged the transaction. The buyers secured a new mortgage loan from Landmark Credit Union. Harmoniq Residential, based in Milwaukee, will manage and lease The Malt House. The seller was not disclosed by Midloch, but media reports indicate Whitestone Capital was the previous owner. Originally constructed in 1882 for the Pabst Brewing Co., The Malt …

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oslo-Overland-Park
DevelopmentKansasLeasing & MarketingMidwestNews

Ryan Cos., EPC Open Oslo in Overland Park

by Lynn Peisner

OVERLAND PARK, KAN. — Ryan Cos. and EPC Real Estate Group have opened The Oslo, a four-story, 413-unit property in Overland Park, a suburb of Kansas City. Residents are moving into the first two buildings, which opened in March and May. The remaining buildings are set to open later this year. Developers broke ground in October 2023. Ryan served as the developer, builder and capital markets partner for The Oslo, working in partnership with EPC Real Estate Group on the project. NSPJ Architects led the architectural design. Olsson provided civil …

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River-West-Chicago
IllinoisInvestment SalesMidwestNews

Greenstone Partners Brokers Chicago Sale

by Lynn Peisner

CHICAGO — Greenstone Partners has arranged the sale of 693 North Peoria St., a nine-unit property located in the River West neighborhood of Chicago. The property sold for approximately $4.3 million. Senior Director Jordan Multack represented the undisclosed seller and sourced a local 1031 exchange buyer. Units have washers, dryers and balconies.

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Shea-Ravines
Affordable HousingDevelopmentMichiganMidwestNews

Woda Cooper, Cherry Health Break Ground on Affordable Housing Near Grand Rapids

by Lynn Peisner

WYOMING, MICH. — Cherry Health and Woda Cooper Cos. have broken ground on Shea Ravines, a 56-unit affordable housing community in Wyoming, about six miles south of Grand Rapids. Shea Ravines will be a LEED-certified, four-story building with an elevator. It will offer 40 one-bedroom and 16 two-bedroom apartments for singles, families and seniors who earn up to 80 percent of area median income. The property will have 20 Permanent Supportive Housing (PSH) units. These units are specifically reserved for people experiencing homelessness or people with disabilities. The PSH units …

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Inspire-Prairie-Springs
DevelopmentMidwestNewsWisconsin

Bond Cos. Breaks Ground on Garden-Style Community Near Kenosha, Wisconsin

by Lynn Peisner

PLEASANT PRAIRIE, WIS. — Bond Cos. has broken ground on Inspire Prairie Springs in Pleasant Prairie, seven miles west of Kenosha, Wisconsin. The first phase of the project will be complete in 2027 and will include 332 units across three residential buildings and an amenity clubhouse. RINKA is the architect, and Stevens Construction Corp. is the general contractor. The three-story, garden-style buildings will feature a mix of studio, one-, two- and three-bedroom layouts ranging from 500 to 1,405 square feet. In each elevator-served building, residents will have access to a …

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Affordable HousingFinanceIllinoisMidwestNews

Lument Closes $90.6 Million in Fannie Mae Loans to Refinance Chicago Portfolio

by Lynn Peisner

CHICAGO — Lument has provided $90.6 million in Fannie Mae loans to refinance four Chicago properties with a total of 654 units. All the communities are located in the Lakeview neighborhood on the city’s North Side and were constructed in the 1920s.  Lument, a Fannie Mae lender approved to originate and service loans under the agency’s Delegated Underwriting and Servicing (DUS) program, secured the debt on behalf of BJB Properties. The loans replace existing life company debt for BJB, a Chicago-based operator focused on long-term holds. Evan Hom, a senior …

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Vista-Greenway-Pool
DevelopmentMidwestNewsOhio

Vista Residential Partners Breaks Ground in Columbus, Ohio

by Lynn Peisner

COLUMBUS, OHIO — Vista Residential Partners has broken ground Greenway Vista in Columbus. The developer is building the 312-unit property on 25 acres near Rickenbacker Airport, a cargo hub. Parse Capital and Old National Bank provided financing for Greenway Vista. Designed by Columbus-based ArchAll Architects, the community will offer a mix of one- and two-bedroom units and such amenities as a 6,500-square-foot clubhouse with fitness and business centers, a resort-style pool with cabanas and grilling area, a large central green space with a pavilion, a community garden and a pet …

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