Midwest

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
IllinoisLeasing & MarketingMidwestNews

Daniel Management Group Takes Over Management of Aloft at the Glen Town Center in Glenview, Illinois

by Channing Hamilton

GLENVIEW, ILL. — Daniel Management Group has taken over management services at Aloft at the Glen Town Center, a 180-unit community in Glenview. Aloft at the Glen Town Center offers amenities such as a fitness center, social room and co-working spaces. Units feature full-size washers and dryers, soaking tubs and self-controlled heating/cooling. The property is located in the heart of Glenview, a city approximately 25 miles north of Chicago. 

Continue Reading
0 FacebookTwitterLinkedinEmail
Sixteen30 in Plainfield, Illinois
IllinoisInvestment SalesMidwestNews

Wingspan Development Group Sells 284-Unit Sixteen30 in Plainfield, Illinois

by Channing Hamilton

PLAINFIELD, ILL. — Wingspan Development Group has sold Sixteen30, a 284-unit property in Plainfield, approximately 40 miles southwest of Chicago. The property was 95 percent occupied at the time of sale. Continental Properties was the buyer. Sixteen30 opened in August 2021. Situated at 14750 Wallin Drive, the garden-style community comprises eight buildings surrounding a 7,500-square-foot clubhouse and pool. The clubhouse was designed by Eleni Interiors and includes a great room, coffee bar, fitness center, yoga studio, co-working space, demonstration kitchen, pet spa and package room. Units range from 600 to …

Continue Reading
0 FacebookTwitterLinkedinEmail
465 N. Park Dr. in Chicago
FinanceIllinoisMidwestNews

JLL Capital Markets Arranges $127 Million Refinancing for 444-Unit Community in Chicago

by Channing Hamilton

CHICAGO — JLL Capital Markets has arranged the $127 million refinancing of 465 N. Park Dr., a 48-story asset in the Streeterville neighborhood of downtown Chicago. The borrower was a joint venture between MetLife Investment Management and Allstate Investments. JLL represented the borrower to secure the five-year loan through The Northwestern Mutual Life Insurance Co. Danny Kaufman, Mary Dooley, Medina Spiodic, Tara Hagerty and Rebecca Brielmaier led the JLL Capital Markets Debt Advisory team. 465 N. Park Dr. was built in 2018. The property offers 444 units in studio, one-, two- …

Continue Reading
0 FacebookTwitterLinkedinEmail
Leasing & MarketingMichiganMidwestNews

Friedman Communities to Manage 717-Unit The Loop on Greenfield in Oak Park, Michigan

by Channing Hamilton

OAK PARK, MICH. — Friedman Communities, the management division of Friedman Real Estate, has been selected to manage The Loop on Greenfield in Oak Park, about 14 miles north of Detroit. The property was built in 1965 and features 717 units. Apartments come in studio, one- and two-bedroom layouts. Amenities include a fitness center, playground, pool and courtyard.

Continue Reading
1 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2025 France Publications, dba France Media Inc.