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Flora in Chicago
DevelopmentIllinoisMidwestNews

High Street Residential Completes 34-Story Residential Tower in Chicago

by Channing Hamilton

CHICAGO — High Street Residential, the residential subsidiary of Trammell Crow Co., has completed Flora, a 34-story high-rise project located in Chicago’s Fulton Market district. The community offers 368 apartments in a mix of studio, one-, two- and three-bedroom layouts, alongside penthouse units with condominium-like finishes. Residents at Flora have access to interior amenities such as a clubroom, golf and game simulator room, fitness center and yoga studio, dining area with chef’s kitchen, coworking spaces and a sound recording booth. The community also features an outdoor amenity deck on the second …

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Willow Creek Apartments in Kansas City, Missouri
FinanceMidwestMissouriNews

Dwight Mortgage Trust Provides $56 Million Loan for Willow Creek Apartments in Kansas City, Missouri

by Channing Hamilton

KANSAS CITY, MO. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $56 million bridge loan for Willow Creek Apartments in Kansas City. The loan will be utilized to refinance existing debt, complete remaining construction costs, cover closing costs and fund required escrows. David Scheer of Dwight Capital originated the financing on behalf of the borrower, KC Willow Creek LLC. Willow Creek Apartments consists of 998 apartments across 43 buildings. The garden-style community is situated on about 70 acres. Units come in one-, two- and three-bedroom …

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The Encore Southpark in Charlotte, North Carolina
FinanceMidwestNewsOhio

BWE Arranges $260 Million Refinancing for 1,500-Unit Portfolio Across Four States

by Channing Hamilton

CLEVELAND — BWE, the commercial finance firm formerly known as Bellwether Enterprise Real Estate Capital, has arranged a $260 million loan for the refinancing of a portfolio of six properties totaling roughly 1,500 units. The company is based in Cleveland. Northwestern Mutual provided the five-year loan, which was structured with a 5.07 percent interest rate, full-term interest-only payments and a 55 percent loan-to-value ratio. The borrower was not disclosed. All properties were constructed within the past decade, and the portfolio had an occupancy rate of approximately 95 percent at the …

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Arden Townhomes in Warrenville, Illinois
FinanceIllinoisMidwestNews

Cantera Townhomes Secures $25 Million Financing for Arden Townhomes Near Chicago

by Channing Hamilton

WARRENVILLE, ILL. — Cantera Townhomes LLC has received $25 million for the refinancing of Arden Townhomes, a 60-unit townhome community located in the Cantera neighborhood of Warrenville, about 30 miles west of Chicago. Situated at 28291-28417 Torch Parkway, Arden Townhomes offers three-bedroom units averaging 1,898 square feet. The asset was recently built in 2024. JLL represented the borrower in securing the $20 million, two-year, floating-rate senior loan through an entity managed by Argentic Investment Management LLC. Pearlmark provided an additional $5 million in mezzanine financing. Trent Niederberger and Philip Galligan …

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Optima Verdana, in Wilmette, Illinois
FeaturesMidwestNortheastOperationsSoutheastTexasWestern

Which Amenities Pay Off in Today’s Market?

by Channing Hamilton

Amenities are the personality of a multifamily property. They proclaim a community’s individuality and lure tenants with promises of a fun, relaxing or convenient lifestyle. What counts as a multifamily amenity today? If most renters and homeowners are accustomed to robust Wi-Fi or controlling their heating and air conditioning through their phones, is a smart thermostat or bulk internet something to advertise as an “extra,” or are these features a given nowadays, like a fridge or a microwave? “Want versus need is a spectrum when it comes to multifamily amenities,” …

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Lock Lane Apartments in Madison, Wisconsin
DevelopmentMidwestNewsWisconsin

Vermilion to Develop 309-Unit Lock Lane Apartments in Madison, Wisconsin

by Channing Hamilton

MADISON, WIS. — Vermilion Development will develop Lock Lane Apartments, a 309-unit project located on an 8.5-acre site in Madison. McShane Construction Co. will construct the property. Potter Lawson is the project architect. JLL arranged equity capital through Quartz Lake Capital and Clarion Partners. CIBC is providing construction financing.  Lock Lane Apartments will consist of two five-story buildings that house 289 apartments, as well as three two-story townhome buildings with 20 units. The property will also include a two-level parking garage. Planned amenities include green roof areas, fitness centers, clubrooms, …

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Build-to-RentDevelopmentFinanceMidwestNebraskaNews

Cavan Cos. Receives $87.5 Million in Construction Financing for Build-to-Rent Projects in Omaha, Nebraska

by Channing Hamilton

OMAHA, NEB. — Cavan Cos. has secured two construction loans totaling $87.5 million for the development of The Bungalows on Honeysuckle and The Bungalows at Whitehawk Lake, two build-to-rent (BTR) projects in Omaha. ORIX Corp. USA’s Real Estate Capital Group provided the financing. Timelines for completion were not disclosed. Combined, the two projects will feature 466 single-story homes in one-, two- or three-bedroom layouts. Each residence will include open floor plans, 10-foot ceilings, laundry rooms, walk-in closets and fenced back yards with artificial turf. Select homes will also have garages. Both communities will …

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Grandview Terrace in Mound, Minnesota
MidwestMinnesota

CBRE Arranges $9.8 Million Sale of Grandview Terrace in Mound, Minnesota

by Channing Hamilton

MOUND, MINN. — CBRE has arranged the sale of Grandview Terrace, an 88-unit community located in Mound, roughly 25 miles west of Minneapolis, for $9.8 million. Ted Abramson, Abe Appert and Keith Collins of CBRE represented the seller, IPG. An entity related to Lion Rock Properties was the buyer. Grandview Terrace was built in 1970. Located at 5600 Grandview Blvd., the community offers one- and two-bedroom floor plans averaging 800 square feet. According to Apartments.com, amenities include a pool, laundry facility, gated access, Wi-Fi connectivity and a courtyard.

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Affordable HousingDevelopmentMidwestNewsWisconsin

Partnership Completes 48-Unit Affordable Housing Development in Green Bay, Wisconsin

by Channing Hamilton

GREEN BAY, WIS. — A partnership between Gorman & Co. and the Lutheran Social Services of Wisconsin and Upper Michigan (LSS) has completed Bay City Lofts, a 48-unit affordable and supportive housing community in Green Bay. The property is located at 2510 University Ave. Of the total unit count, 40 are set aside for tenants earning between 30 and 60 percent of the area median income. The remaining eight units are market rate. Amenities include a community room, fitness center and onsite offices for LSS, which will provide supportive services …

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Company NewsDevelopmentMidwestNewsOhioPeople News

Woda Cooper Cos. Adds Two Professionals as Development Officers

by Channing Hamilton

COLUMBUS, OHIO — Woda Cooper Cos. Inc., a developer and property manager headquartered in Columbus, has added two professionals as development officers.  The company hired Malik Jordan to the role of senior vice president of development. In this role, Jordan will oversee development projects that involve housing, capital projects and community engagement. Jordan received a bachelor’s degree in English from Coppin State University and a master’s degree in urban and regional planning from Georgetown University. Jordan has 16 years of experience and is a board member for GEDCO, a faith-based …

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