Midwest

Fox-and-Grouse-Phase-II
DevelopmentFinanceMidwestMinnesotaNews

Grego, Eagle Partners Lock in $56 Million for Second Phase of Minneapolis-Area TOD

by Lynn Peisner

EDEN PRAIRIE, MINN. — Greco and Eagle Ridge Partners have secured $55.6 million in debt and equity financing to complete the second phase of The Fox & The Grouse in Eden Prairie, 18 miles southwest of Minneapolis. JLL Capital Markets arranged the package, consisting of a $39.1 million, three-year, floating-rate loan through MidWestOne Bank and $16.5 million in joint venture equity from Amstar Group. The six-story community will offer a mix of studios and one-, two- and three-bedroom units, with a quarter of the units designated as affordable with rents …

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Park-Villas-Apartments
Investment SalesMidwestMinnesota

Venture Development Buys Minnesota Active Adult Property

by Lynn Peisner

WAITE PARK, MINN. — Podawiltz Development Corp. has sold Park Villa Apartments in Waite Park, about 70 miles northwest of Minneapolis in the St. Cloud metro area. JLL arranged the sale, representing Podawiltz in the deal, and procured the buyers, Noel Johnson and Jamison Kohout of Venture Development Group. The sales price was not disclosed. The 95-unit active adult community features 71 one-story, cottage-style units and 24 two-story townhome apartments with private garages. Park Villa was constructed in 1991 and renovated in 2008. It sits on about 7 acres.

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Rock-Run
DevelopmentIllinoisMidwestNews

Cullinan Breaks Ground on Multifamily Portion of Chicago Mixed-Use Project Rock Run Collection

by Lynn Peisner

JOLIET, ILL. — Cullinan Properties has broken ground on the first phase of The View at Rock Run, a 573-unit apartment community set on 30 acres within the larger 310-acre Rock Run Collection mixed-use development in Joliet. PREMIER Design + Build Group and Humphreys & Partners Architects are, respectively, constructing and designing the community that will consist of fourteen three-story, garden-style apartment buildings. Amenities will include a pool, volleyball and bocce ball courts and a fitness center with a separate yoga area. Phase I of The View includes three residential …

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Mill-and-Miss
Affordable HousingDevelopmentMidwestMinnesotaNews

Oppidan Breaks Ground on Workforce Housing in Grand Rapids

by Lynn Peisner

GRAND RAPIDS, MINN. — Oppidan Investment Co., a national property development firm headquartered in Excelsior, Minnesota, has broken ground on Mill + Miss, a new workforce housing project in Grand Rapids, located 178 miles north of Minneapolis. The 121,000-square-foot, 132-unit development is comprised of one-, two- and three-bedroom floor plans. The developer expects to complete the project in March 2027. Oppidan partnered with the City of Grand Rapids, the Grand Rapids Economic Development Authority, Iron Range Resources & Rehabilitation Board and the Minnesota Housing Finance Agency through the state’s Workforce …

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Aery-Hermantown-Minnesota
FinanceMidwestMinnesotaNews

CBRE Arranges Loan for Aery in Duluth, Minnesota

by Lynn Peisner

HERMANTOWN, MINN. — CBRE has arranged a $25.5 million Fannie Mae loan for P&R Cos. to refinance Aery, a 147-unit property in Hermantown, a western suburb of Duluth, Minn. CBRE’s Minneapolis-based team of Billy Mork, Mike Vannelli and Joel Torborg arranged the permanent, fixed-rate loan. Aery was developed in 2021 and features studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center, pet spa, storage, an outdoor rooftop deck and patio areas with grilling stations.

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Emblem-Oswego
IllinoisMidwestNewsOperations

Marquette Tapped to Manage Suburban Chicago Property

by Lynn Peisner

OSWEGO, Ill. — Marquette Management, a division of Naperville, Illinois-based Marquette Cos., has been selected as property manager for Emblem Oswego, a 312-unit community in Oswego, 46 miles west of Chicago. Quarterra Group, whose parent company is Lennar, developed the property in 2024. Emblem Oswego offers one- and two-bedroom floor plans with in-unit features such as quartz countertops, stainless steel appliances and private patios or balconies. Residents also have access to a pool and sundeck, fitness center, lounge, entertainment kitchen and electric vehicle charging stations. Marquette Management provides property management …

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FeaturesFinanceIndustry ContentMidwestNortheastOperationsSoutheastTechnologyTexasWebinarWestern

Webinar: From Sunk Costs to Strategic Savings — Risk and Insurance Plays to Strengthen Your Multifamily Portfolio

by Sarah Daniels

The August 6 webinar “From Sunk Costs to Strategic Savings — Risk and Insurance Plays to Strengthen Your Multifamily Portfolio,” sponsored by Foxen, explored practical ways for multifamily owners and operators to address one of their largest cost concerns in 2025: insurance.  Industry experts detailed the risks of tenant-caused property damage, the operational challenges of monitoring renters insurance and the benefits of structured compliance programs. Viewers learned about property damage liability waiver programs and tenant legal liability (TLL) policies in protecting owners from uninsured losses. The panel also discussed the …

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Landing-of-Clinton
Investment SalesIowaMidwestNews

Axiom Properties Buys Iowa Asset For $27.4 Million

by Lynn Peisner

CLINTON, IOWA — Axiom Properties has acquired The Landing of Clinton for $27.4 million. The 190-unit asset in Clinton, 147 miles west of Chicago, was sold by an undisclosed party that was represented by Northmarq’s Midwest Investment Sales team. Parker Stewart, Anthony Martinez, Alex Malzone and Dominic Martinez led the team. Built between 2016 and 2019, the Landing of Clinton consists of apartments and townhomes in a mix of one-, two- and three-bedroom floor plans. All units include a washer and dryer, stainless steel appliances, granite countertops, wood-look flooring and …

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Village-Green
FeaturesMidwestOperations

The Art of Alignment: How to Balance Stakeholder Interests in Multifamily Property Management

by Lynn Peisner

By Diane Batayeh, Village Green To be successful at multifamily property management involves equal parts of communication, alignment and trust. There are several stakeholder groups to consider when making decisions about how best to operate and set up an apartment community for long-term success. Between residents, employees and owners, there are differing and sometimes conflicting objectives and perspectives to consider. In today’s quickly evolving multifamily landscape, satisfying everyone can be challenging, and it requires a delicate balance to maintain all stakeholders’ satisfaction while also achieving their respective goals. With the …

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Max-Grossman
Affordable HousingFinanceIllinoisIndustry VoicesInvestment SalesMidwestMinnesota

How Affordable Housing Investors Can Benefit From Property Tax Programs

by Lynn Peisner

By Max Grossman Many cities across the U.S. are grappling with two persistent challenges: a lack of affordable housing and high property taxes. While these issues may seem separate, some policymakers have implemented programs that can address both at the same time. Chicago’s affordable housing supply is short by approximately 120,000 homes and 240,000 rental units, according to the Illinois Policy Institute. Additionally, nearly one-third of Illinois residents commit more than 30 percent of their income toward housing, the most of any state in the Midwest. The city is also …

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