Midwest

Rafter Apartments in Minneapolis
Investment SalesMidwestMinnesotaNews

Joint Venture Sells 26-Story Rafter Apartments in Minneapolis

by Channing Hamilton

MINNEAPOLIS — A joint venture consisting of Mortenson, The Excelsior Group and an institutional partner has sold Rafter Apartments, a 26-story high-rise community located at 333 East Hennepin Ave. in the Northeast neighborhood of Minneapolis. Boise, Idaho-based developer and operator Roundhouse acquired the property for an undisclosed price. Completed in 2019, Rafter Apartments offers a mix of studios, one-, two- and three-bedroom units. Amenities include a rooftop pool with a sundeck, fitness center, clubroom, coworking spaces. The property also features a maker’s room with work benches, community tools and tool …

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Liberty Square Flats in Wheaton, Illinois
IllinoisInvestment SalesMidwestNews

Interra Realty Brokers Two Deals in Wheaton, Illinois, Totaling $15.4 Million

by Channing Hamilton

WHEATON, ILL. — Interra Realty has brokered the sale of two Liberty Square Flats buildings in Wheaton, 30 miles west of Chicago. Liberty Square Flats totals 18 units and traded for $8.4 million, while the 44-unit Lorraine Court Apartments sold for $7 million. Situated at 302 W. Liberty Drive, Liberty Square Flats was built in 2024. Amenities include a rooftop deck, dog washing station, outdoor patio, storage closets, heated garage parking, electric vehicle chargers, surface parking and keyless access. Lorraine Court Apartments, located on South Lorraine Road, was built in …

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Colony Lofts in Toledo, Ohio
DevelopmentMidwestNewsOhio

Continental, Hallmark Deliver Colony Lofts in Toledo, Ohio

by Channing Hamilton

TOLEDO, OHIO — Continental Real Estate Cos. and Hallmark Communities have completed development of Colony Lofts, a 262-unit community in Toledo. Colony Lofts offers amenities such as a pool, grilling stations, fitness center, business center, clubhouse and coffee bar. The property also includes retail spaces, electric vehicle charging stations and an outpost of Central Ohio restaurant chain The Old Bag of Nails Pub. Monthly rents start at $964 for a studio unit, according to the property’s website. Coastal Ridge is the property manager.

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Haven Hoffman Estates in Hoffman Estates, Illinois
IllinoisInvestment SalesMidwestNews

Eastham Capital, Bender Cos. Purchase Asset Near Chicago for $75.8 Million

by Channing Hamilton

HOFFMAN ESTATES, ILL. — Eastham Capital and Bender Cos. have acquired Haven Hoffman Estates, a 550-unit property in Hoffman Estates, 33 miles west of Chicago. The asset traded hands for $75.8 million. The identity of the seller was not disclosed. Eastham Capital obtained a majority interest in the deal through its current fund, Eastham Capital Fund VI LP. Bender Cos. will oversee the day-to-day management of the property.  Built in 1970, the property offers amenities such as a pool, clubhouse, fitness center, work-from-home suites and an outdoor dining area. The …

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Columbus Plaza in Chicago
FinanceIllinoisMidwestNews

Habitat Receives $102.4 Million for Refinancing of Columbus Plaza in Chicago

by Channing Hamilton

CHICAGO — Habitat has received a $72.9 million Freddie Mac loan, as well as $29.5 million in equity from New York-based Torchlight Investors for the refinancing of Columbus Plaza, a high-rise community located in downtown Chicago. Torchlight Investors joins Habitat as an equity partner in the property. Northmarq arranged the Freddie Mac loan. The refinancing replaces a $93 million loan from 2017 that matured in November. Habitat and its partners will use the new loan and capital structure to plan renovations and other capital improvements. Columbus Plaza consists of 534 …

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MidwestNewsPeople NewsWisconsin

MLG Names Billy Fox as President, Dan Price as Chief Investment Officer

by Channing Hamilton

BROOKFIELD, WIS. — Brookfield-based investment firm MLG Capital has appointed Billy Fox to the position of president and principal. Additionally, the company promoted Dan Price to the role of Chief Investment Officer (CIO) and principal. Fox has been with MLG for 10 years and currently leads the firm’s Legacy Fund. As president, he will lead team building efforts, investment strategy and overall client experience. He will continue to serve on the company’s investment committee. Price has worked with MLG for four years. He currently leads the firm’s Midwest acquisition team …

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Investment SalesMidwestMinnesotaNews

Marcus & Millichap Brokers $7.3 Million Sale of Property in Coon Rapids, Minnesota

by Channing Hamilton

COON RAPIDS, MINN. — Marcus & Millichap has arranged the $7.3 million sale of Crest Oak Apartments, a 60-unit property in Coon Rapids, roughly 15 miles north of Minneapolis. Built in 1972, Crest Oak Apartments offers a mix of one-, two- and three-bedroom units across 47,150 rentable square feet. Abe Roberts and Michael Jacobs of Marcus & Millichap represented the seller, which was disposing of a four-building portfolio. The asset sold to a 1031 exchange buyer.

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Summit Crossing in Kansas City, Missouri
DevelopmentMidwestMissouriNews

MLG Capital Purchases 336-Unit Community in Kansas City, Missouri

by Channing Hamilton

KANSAS CITY, MO. — MLG Capital has acquired Summit Crossing, a garden-style property in Kansas City. Built in phases and completed in 2019, the community features 336 apartments and townhomes. Approximately 60 percent of units are townhomes with attached garages. Residents have access to shared amenities such as two pools, a clubhouse, fitness center, business center and pickleball courts.

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Investment SalesMidwestMissouriNews

PPR Acquires Community in Kansas City, Missouri, for $33.6 Million

by Channing Hamilton

KANSAS CITY, MO. — PPR Capital Management (PPR) has acquired Infinity at Plaza West, a 224-unit garden-style community in Kansas City, for $33.6 million. The investment structure includes a total equity investment of $11.4 million, with PPR contributing $10.2 million as the primary equity partner. PPR worked alongside Aspen Funds as the general partner and Petra as co-general partner. Petra will also act as the property manager. Infinity at Plaza West was built in 1949 and offers studio, one- and two-bedroom floor plans, according to Apartments.com. Amenities include a pool, …

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The Rail in St. Louis
DevelopmentMidwestMissouriNews

ARCO Construction, HAD Deliver 268-Unit Community in St. Louis

by Channing Hamilton

ST. LOUIS — ARCO Construction and architect HDA have completed The Rail, a 268-unit project in St. Louis. The Rail comprises 278,659 square feet across four stories. The property also includes a three-level parking garage totaling 94,598 square feet.  Tenants have access to amenities such as a gathering kitchen, fitness center, game lounge, theater, coworking spaces and conference rooms. Additionally, the complex offers outdoor amenities, including a pool and grilling area. Monthly rents start at $1,410, according to the property’s website. Units come in studio, one- and two-bedroom floor plans.

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