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Marlowe Opus Station in Minnetonka, Minnesota
DevelopmentMidwestMinnesotaNews

Associated Bank Provides $55 Million Construction Loan for 269-Unit Project in Minneapolis Suburb

by Channing Hamilton

MINNETONKA, MINN. — Associated Bank has provided a $55 million construction financing package for Marlowe Opus Station, a 269-unit development located at 10702 Red Circle Drive in Minnetonka, approximately 13 miles west of Minneapolis. Greystar is the developer of the project. Edward Notz of Associated Bank originated the loan. Demolition is currently underway on the vacant office building on the site. A at Marlowe Opus Station will include a pool, courtyard, fitness room, clubroom, sauna, pet wash, work-from-home offices, bike storage, structured parking, electric vehicle charging stations and storage units. …

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OC Living in Chicago
DevelopmentIllinoisMidwestNews

Habitat Breaks Ground on Next Phase of OC Living at $200 Million Mixed-Use Development in Chicago

by Channing Hamilton

CHICAGO — Habitat, a locally based developer and property manager, has broken ground on OC Living Phase A2, the second residential building to be built at the $200 million Ogden Commons mixed-use project in Chicago’s North Lawndale neighborhood. Phase A2 of OC Living will feature 75 units, 82 percent of which will be set aside as affordable housing. Thirty units will be available to Chicago Housing Authority residents. The remaining 13 apartments will have market-rate rents. Units will come in studio, one- and two-bedroom floor plans. The building will rise …

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DevelopmentMidwestMissouriNews

Brinkmann Constructors, EPC Real Estate Group Break Ground on 74 Broadway Apartment Complex in Kansas City 

by Channing Hamilton

KANSAS CITY, MO. — A partnership between Brinkmann Constructors and EPC Real Estate Group has broken ground on 74 Broadway, a 440,000-square-foot development in the Waldo neighborhood of Kansas City. The community will offer 280 apartments, as well as a clubhouse, six-story parking garage and ground-floor retail space. BRR Architecture is the project architect. A construction timeline for the project was not provided.

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Parkline Chicago in Chicago
IllinoisInvestment SalesMidwestNews

AmTrust RE Acquires 213-Unit High-Rise Community in Chicago’s East Loop

by Channing Hamilton

CHICAGO — AmTrust RE has purchased Parkline Chicago, a 26-story high-rise community located at 60 E. Randolph St. in Chicago’s East Loop neighborhood. The 210,000-square-foot building consists of 213 units, including 189 standard rental units and 24 penthouses. The property also includes 6,200 square feet of retail space. Apartments at Parkline Chicago feature wood-grained flooring, undercabinet lighting and quartz countertops. Community amenities include a two-story sky lounge, fitness and yoga studio, indoor-outdoor pool with an attached sundeck and dog run. John Jaeger, Justin Puppi and Jason Zyck of CBRE arranged …

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Nathan Wilcox, Principal Architect, The Beck Group
Architecture & DesignDevelopmentIndustry VoicesMidwestNortheastOperationsSoutheastTexasWestern

Four Trends to Watch in Multifamily Design

by Channing Hamilton

Four significant cultural shifts are driving the evolution of multifamily design. Today, developers and architects must create spaces that serve the remote work trend, meet the demand for wellness amenities, keep up with changing sustainability and technology standards and create communities that socially engage their residents. How Hybrid Work Schedules Have Changed Design The shift to remote and hybrid work has profoundly influenced design offerings and space planning at an unprecedented pace in multifamily developments. Before the shift to full-time or partial work from home, the average size of most …

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Hilliard Village in Columbus, Ohio
FinanceMidwestNewsOhio

JLL Capital Markets Arranges $20 Million Bridge Financing for Hilliard Village in Columbus, Ohio

by Channing Hamilton

COLUMBUS, OHIO — JLL Capital Markets has arranged $20 million in bridge financing for Hilliard Village, a 352-unit community in Columbus. JLL worked on behalf of the borrowers, Machine Investment Group and RH, to arrange the three-year, fixed-rate loan through The Bancorp Inc. Jamie Leachman, Medina Spiodic and Carter Wroblewski led the JLL Capital Markets Debt Advisory team representing the borrowers. Hilliard Village was originally built in 1973. Located at 3400 Twin Creeks Drive, the garden-style community is situated approximately 8 miles from Columbus’s downtown area. Units come in one-, two- and three-bedroom …

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325 S Union St. in Aurora, Illinois
DevelopmentIllinoisInvestment SalesMidwestNews

SVN | Chicago Commercial Brokers $1.5 Million Sale of Historic Industrial Property in Aurora, Illinois, for Multifamily Conversion

by Channing Hamilton

AURORA, ILL. — SVN | Chicago Commercial has arranged the sale of a 45,000-square-foot industrial property located at 325 S Union St. in Aurora, about 41 miles west of Chicago. The 111-year old building was originally utilized to manufacture vehicle parts during World War II. The undisclosed buyer plans to use historic tax credits to convert the building into market-rate multifamily housing. James Mead of SVN | Chicago Commercial represented the seller in the transaction.

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1501 N California Ave. in Chicago
IllinoisInvestment SalesMidwestNews

Interra Realty Arranges $19.3 Million Sale of 97-Unit Portfolio in Chicago

by Channing Hamilton

CHICAGO — Interra Realty has brokered the sale of a five-building, 97-unit portfolio located on Chicago’s northwest side. Joe Smaza and Mark Dykstra of Interra Realty arranged the deal on behalf of the buyer, Silver Property Group Ltd., a Chicago-based real estate investment and management company. Interra Realty also represented the seller, an investment group based in the East Coast. The portfolio traded for $19.3 million. The portfolio consists of the following properties:

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Avant at the Arboretum in Lisle, Illinois
IllinoisInvestment SalesMidwestNews

Waterton Acquires 310-Unit Avant at the Arboretum in Lisle, Illinois

by Channing Hamilton

LISLE, ILL. — Waterton has acquired Avant at the Arboretum, a 310-unit community located at 450 Warrenville Road in Lisle, 26 miles west of downtown Chicago. The acquisition brings Waterton’s portfolio to more than 7,000 units in the Chicago metropolitan area. Built in 2013, Avant at the Arboretum offers one- and two-bedroom units. The building rises four stories. Community amenities include a pool, grilling stations, fitness center, clubroom, theater room, game room with billiards and a dog park. The property also includes a parking garage with 314 parking spaces, as …

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The Hangar on Emerson in Greenwood, Indiana
IndianaInvestment SalesMidwestNews

RailField Acquires 218-Unit The Hangar on Emerson in Suburban Indianapolis

by Channing Hamilton

GREENWOOD, IND. — RailField has acquired The Hangar on Emerson, a 218-unit property located at 1140 Emerson Pointe Drive in Greenwood, which is 14 miles south of Indianapolis. The seller and sales price were not disclosed. The acquisition marks RailField’s entry to the Midwest. The Bethesda, Maryland-based investment and asset-management firm owns multifamily communities in 12 markets primarily in the mid-Atlantic, the Southeast and in Texas. The Hangar on Emerson was named for its proximity to the Indy South Greenwood Airport. Built in 2023, the community consists of three mid-rise buildings. Units come in …

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