Midwest

Jalen Lofts in Trotwood, Ohio

TROTWOOD, OHIO — KeyBank Community Development Lending and Investment (CDLI) has provided $23 million in financing for the construction of Jalen Lofts in Trotwood, roughly 8 miles northwest of Dayton, Ohio. Derek Reed and David Lacki of KeyBank CDLI structured the financing, which includes a $9.8 million construction loan, a $3.7 million permanent loan and $9.4 million in low-income housing tax credit financing.  Jalen Lofts will feature 66 workforce and affordable housing units, which will be available to families who earn between 30 and 80 percent of the area median …

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Equinox Apartments in St. Anthony, Minnesota

ST. ANTHONY, MINN. ­— A partnership between ARTISAN Capital Group and Eastham Capital has purchased Equinox Apartments, a 266-unit property in St. Anthony, about 5 miles north of Minneapolis. Fannie Mae provided an undisclosed amount of financing for the acquisition. Built in 1974 on 17.5 acres, Equinox Apartments features a mix of 151 one-bedroom and 115 two-bedroom apartments. Each unit includes a walk-in closet and patio or deck. Amenities include a clubhouse with entertainment space, indoor and outdoor pools, a fitness center, grilling area, dog park, playground and detached parking …

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Haven at Ann Arbor

NAPERVILLE, Ill. —  Marquette Cos. and DRA Advisors have sold The Haven at Ann Arbor to Abacus Capital Group. The two parties jointly acquired the 520-unit property in 2017 when it was known as Village Green of Ann Arbor. The owners completed $13 million in renovations during their hold time. Upgrades included granite kitchen countertops, new cabinets and hardware, new lighting and plumbing fixtures. Marquette also renovated the property’s common-area amenities. The Haven at Ann Arbor was 95 percent occupied at the time of sale. The cost of the asset …

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7800 South Throop Street

CHICAGO — Badu Investments LLC has sold two properties on Chicago’s South Side to AT Holdings LLC, an out-of-state investor seeking to expand a Chicago value-add portfolio. The two properties, located at 7300 S. May St. and 7800 S. Throop St., include a mix of one- and two-bedroom units. They are located in Chicago’s Auburn Gresham and Englewood neighborhoods respectively. The 6,480-square-foot property at 7300 S. May St. was built in 1924, while the 8,400-square-foot property at 7800 S. Throop St. dates to 1929. Quentin Benedetto, Kyle Stengle and Jack …

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The Edison in Milwaukee

MILWAUKEE — Madison, Wisconsin-based developer The Neutral Project has secured $133.3 million in construction financing for The Edison, a 378-unit project located at 1005 North Edison St. in Milwaukee. Mike Brady, Tara Hagerty and Merrick Evans of JLL Capital Markets arranged the senior financing through Bank OZK and the mezzanine financing through Pearlmark. The Edison will include 308,913 square feet of rentable residential space across 32 stories. The community will offer studio, one-, two- and three-bedroom apartments. Residents will have access to amenities such as a café, fitness center, pool …

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610 West Apartments in Brooklyn Park, Minnesota

BROOKLYN PARK, MINN. — Spyglass Capital Partners has acquired 610 West Apartments, a 480-unit community in Brooklyn Park, roughly 15 miles northwest of downtown Minneapolis. JLL Capital Markets represented the seller, The Doran Group, in the transaction. Additionally, JLL secured acquisition financing through Fannie Mae on behalf of the buyer. Josh Talberg and Joseph Peris led JLL’s investment and sales advisory team. Scott Loving, Ken Dayton and Pat McMullen of JLL secured the acquisition financing. Located at 6717 Oak Grove Parkway, 610 West Apartments consists of four buildings. The community …

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K2 Apartments in Chicago

CHICAGO — Georgetown Co. has received a $113.7 million Freddie Mac loan for the refinancing of K2 Apartments, a 34-story residential tower located at 365 N. Halsted St. in Chicago’s Fulton Market district. Danny Kaufman, Medina Spiodic and Rebecca Brielmaier of JLL arranged the seven-year, fixed-rate loan on behalf of the borrower. Built in 2013, K2 Apartments comprises 496 units in studio, one-, two- and three-bedroom configurations. Amenities include a pool, terrace lounge, movie theater room, concierge services, a dog park and indoor basketball court. Georgetown Co. is an investment …

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Village Apartments in Forest Lake, Minnesota

FOREST LAKE, MINN. — Gaughan Cos. has sold Village Apartments, a 252-unit community in Forest Lake, roughly 27 miles northeast of Saint Paul, Minnesota, for $24.5 million. Josh Talberg of JLL Capital Markets brokered the sale. The asset was part of Gaughan’s Minnesota Legacy Apartment Portfolio, which consists of nearly 800 units. The buyer was not disclosed. Situated at 407 11th Ave. SW, Village Apartments was built in 1969. The three-story property offers studios, one- and two-bedroom apartments. Amenities include gated access, laundry facilities, picnic areas, a playground, a pool …

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ButterflyMX

Security is a top priority in the multifamily industry. Monitoring and controlling access to a property protects owners and their residents from the impacts of violent crime, theft, vandalism and trespassing. The benefits of an effective security, monitoring and access system run deep. “Access control is not just about security,” says Roger Solomon, a senior associate at Trio Advisory Group. The company offers consulting services on access control, video surveillance and other technologies for commercial real estate properties. “Access control is also about ensuring convenience for residents and staff, enhancing …

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Xander on State in Columbus, Ohio

COLUMBUS, OHIO ­— RM Communities and Crawford Hoying have secured a $30.5 million acquisition loan for Xander on State, a 229-unit community located at 265 East State St. in downtown Columbus’s Discovery District. Brian Gaswirth, Jesse Wright, Joshua Odessky and Shane Ciacci of JLL Capital Markets arranged the loan through ACRE. Built in 2020, Xander on State offers a mix of studios, one- and two-bedroom units. Residents have access to amenities including a pool, entertainment area, fitness center and theater room. The property also features 2,681 square feet of ground …

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