Tuesday, November 26, 2024
Read the Digital Magazines Subscribe to the Newsletter

Midwest

Union at Purple Heart Trail in Wichita, Kansas
Affordable HousingDevelopmentFinanceKansasMidwestNews

Annex Group Underway on $61 Million Affordable Housing Development in Wichita, Kansas

by Channing Hamilton

WICHITA, KAN. — The Annex Group is underway on the construction of Union at Purple Heart Trail, a $61 million affordable housing project in Wichita. Purple Heart Trail will consist of 240 apartments across two four-story buildings. Units will be available to households earning at or below 60 percent of the area median income. Planned amenities include a community center with a fitness center, media center, business center, outdoor gazebo, playground, dog park, walking path and picnic areas. Construction is slated to complete in early 2026. The development team for …

Continue Reading
0 FacebookTwitterLinkedinEmail
Carol Nelson Mountain Region Asset Living headshot and quote from article
Build-to-RentColoradoContent PartnerDevelopmentFeaturesIdahoIndustry ContentLeasing & MarketingMontanaNorth DakotaSouth DakotaUtahWesternWyoming

New Supply Tests the Mountain States’ Multifamily Markets

by Sarah Daniels

Population growth in the Mountain states over the last several years has fueled historic apartment construction across Colorado and Utah. The activity has created some supply overhang in the Denver and Salt Lake City markets in particular, but continuing in-migration, housing shortages and the high cost of home ownership could sustain their resiliency, say two of Asset Living’s newest executives in the region. Based in Houston, Asset Living manages assets valued at $55 billion nationwide, including more than 1,750 apartment properties in addition to student, affordable and single-family build-to-rent housing. …

Continue Reading
0 FacebookTwitterLinkedinEmail
Cityville on 9th in Des Moines, Iowa
FinanceInvestment SalesIowaMidwestNews

ARTISAN Capital Group, Eastham Capital Acquire 312-Unit Cityville on 9th in Des Moines, Iowa

by Channing Hamilton

DES MOINES, IOWA — A partnership between ARTISAN Capital Group and Eastham Capital has acquired Cityville on 9th, a 312-unit community located in downtown Des Moines. The property was built in three phases between 2015 and 2018. ACG secured Fannie Mae loan assumptions for two of the phases. West Bank, a local bank, provided financing for the third phase. The sale price and seller were not disclosed. Cityville on 9th offers 42 studios, 162 one-bedroom, 99 two-bedroom and 9 three-bedroom units. Amenities include a pool, dog park, courtyard, fitness center, …

Continue Reading
-1 FacebookTwitterLinkedinEmail
3rd and Grand in Kansas City, Missouri
DevelopmentFinanceMidwestMissouriNews

JLL Capital Markets Arranges $12.9 Million Equity Investment for 245-Unit Community in Downtown Kansas City

by Channing Hamilton

KANSAS CITY, MO. — JLL Capital Markets had arranged $12.9 million equity investment for the construction of 3rd and Grand, a 245-unit community in the River Market neighborhood of downtown Kansas City. The borrowers were EPC Real Estate Group and Copaken Brooks. JLL worked on behalf of the borrower to secure the investor, a national fund manager. Mark Erland and Kevin Barron led the JLL Capital Markets team. 3rd and Grand is situated at 201 and 255 Grand Blvd. The five-story development will house studio, one- and two-bedroom apartments. Planned …

Continue Reading
1 FacebookTwitterLinkedinEmail
John Williams
Affordable HousingDevelopmentFinanceIndustry VoicesMidwestNortheastSoutheastTexasWestern

Public-Private Partnerships: A Creative Approach to Increasing Affordable Housing Supply

by Channing Hamilton

— By John Williams, president, CIO and COO of Avanath Capital Management It’s no secret that the dire shortage of affordable housing is an ongoing issue throughout the nation. The National Multifamily Housing Council reported in 2022 that the United States would need to build 4.3 million new apartments by 2035 to meet demand. The report also stated that the nation’s number of affordable housing units declined by 4.7 million from 2015 to 2020. Unfortunately, there is no one-size-fits-all solution to the problem. Both local and federal governments are taking …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceInvestment SalesMidwestNewsOhio

BWE Provides $14.5 Million Acquisition Loan for Affordable Page Tower in Cincinnati

by Channing Hamilton

CINCINNATI — BWE has provided a $14.5 million Fannie Mae loan for the acquisition of Page Tower, a 169-unit affordable housing complex in Cincinnati. BWE’s Victor Agusta originated the loan, which features a seven-year term, 24 months of interest-only payments and a 35-year amortization. The property includes a 100 percent Section 8 HAP contract for four years. Page Tower was constructed in 1971. The building rises 14 stories and offers amenities such as a community room, mail room and central laundry area. The property also includes 7,500 square feet of …

Continue Reading
1 FacebookTwitterLinkedinEmail
IllinoisInvestment SalesMidwestNews

Interra Realty Brokers $12.7 Million Sale of 30-Unit Property in Chicago

by Channing Hamilton

CHICAGO — Interra Realty has brokered the sale of a 30-unit property located at 2827-2847 N. Clybourn Ave. in Chicago’s West Lakeview neighborhood. The community was more than 95 percent occupied at the time of sale. The property also features six commercial spaces. The building features a heated indoor parking garage for 34 vehicles and an additional 12 exterior spaces for the commercial units. The building traded hands for $12.7 million. Brad Feldman of Interra Realty represented the seller, a private local investor, in the deal. Patrick Kennelly and Paul …

Continue Reading
0 FacebookTwitterLinkedinEmail
KC Current’s mixed-use development
DevelopmentMidwestMissouriNews

Kansas City Current Plans $800 Million Mixed-Use Development on Missouri Riverfront

by Channing Hamilton

KANSAS CITY, MO. — The Kansas City Current, a professional women’s soccer team, has unveiled plans for an $800 million mixed-use project on the Missouri riverfront in downtown Kansas City. Partners for the development include Palmer Square Capital Management, Marquee Development and the Port Authority of Kansas City. The development will be anchored by CPKC Stadium, a women’s soccer stadium that was completed in March. Upon completion, the project will feature hundreds of residential units, as well as food and beverage offerings and new public recreational spaces. Ten percent of …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceMidwestNewsNorth Dakota

Bernard Financial Group Arranges $14.2 Million Refinancing of Portfolio in North Dakota

by Channing Hamilton

DICKINSON, N.D. — Bernard Financial Group (BFG) has arranged a $14.2 million CMBS loan for the refinancing of a portfolio comprising 392 units in Dickinson, a western city of North Dakota. Dennis Bernard and Joshua Bernard of BFG arranged the loan on behalf of the borrower, Falcon Heights Owner LLC.

Continue Reading
0 FacebookTwitterLinkedinEmail
Oakmont Apartments in Coon Rapids, Minnesota
Investment SalesMidwestMinnesotaNews

JLL Capital Markets Brokers Sale of Oakmont Apartments in Coon Rapids, Minnesota

by Channing Hamilton

COON RAPIDS, MINN. — JLL Capital Markets has brokered the sale of Oakmont Apartments, a 48-unit complex in the Minneapolis suburb of Coon Rapids. Gaughan Cos. sold the asset to a local private investor for an undisclosed price. Oakmont Apartments was built in 1974. The property offers studio, one- and two-bedroom floor plans. Amenities include an on-site laundry facility, garage parking. JLL facilitated the sale of Oakmont Apartments as part of Gaughan’s larger Minnesota Legacy Apartment Portfolio, which consists of nearly 800 units. Josh Talberg and Bill Mork led the JLL …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2024 France Publications, dba France Media Inc.