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DevelopmentIndianaMidwest

Thompson Thrift Starts Final Construction Project at Indianapolis Mixed-Use Site

by Lynn Peisner

INDIANAPOLIS — Thompson Thrift has broken ground on The Union at Fishers District, the final phase of the developer’s master-planned development in the Indianapolis suburb of Fishers. This phase will include luxury multifamily as well as 57,000 square feet of retail, restaurant and entertainment space; 70,000 square feet of Class A office space; and a 135-room AC Hotel by Marriott. The multifamily component is called Union Flats. It is a 251-unit community with ground-floor retail space that is slated for completion by late 2026, which is approximately when the rest …

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Columbus-Renaissance-Housing
Affordable HousingDevelopmentMidwestOhio

Woda Cooper Cos. Opens Affordable Housing in Columbus, Ohio

by Lynn Peisner

COLUMBUS, OHIO — Woda Cooper Cos. and co-developer Community Development for All People have opened Columbus Renaissance Housing, a 46-unit affordable housing property in Columbus. Units are reserved for tenants earning up to 60 percent of area median income, which amounts to an annual salary of $61,980 for a family of four. The development of Columbus Renaissance Housing was funded by a combination of public and private investment from entities including the City of Columbus, Franklin County, the Ohio Housing Finance Agency, the Affordable Housing Trust for Columbus & Franklin …

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FinanceIllinoisMidwestNews

Essex Capital Markets Arranges Refinancing for Six-Unit Chicago Asset

by Channing Hamilton

CHICAGO — Essex Capital Markets has arranged a refinancing for six-unit property located at 2216 West 21st Place in Chicago’s Pilsen neighborhood. The financing package includes a $795,000 fixed-rate bank loan with a 5-year term. Quinn Keenan of Essex Capital Markets arranged the loan on behalf of a local private investor. The property offers two-bedroom floor plans. The building underwent a significant renovation in 2023, including new kitchens and updated bathrooms.

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Stonebriar Woods
FinanceKansasMidwestNews

Northmarq Secures $52 Million Loan for Refinancing of Asset in Metro Kansas City, Missouri

by Channing Hamilton

OVERLAND PARK, KAN. — Northmarq has secured a $52 million Freddie Mac loan for the refinancing of Stonebriar Woods, a 476-unit property in Overland Park, about 13 miles south of Kansas City, Missouri. The garden-style community features a mix of one-, two- and three-bedroom floor plans. Amenities include a pool, clubhouse, tennis court, fitness center and green space. Greg Duvall of Northmarq arranged the loan on behalf of the borrower, Price Brothers, a Kansas City-based real estate investment and development firm.

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Riverwood Apartments
Investment SalesMidwestNewsWisconsin

CBRE Arranges Sale of Two Properties in Wisconsin for $10.1 Million

by Channing Hamilton

MAUSTON AND RACINE, WIS. — CBRE has arranged the sale of Riverwood Apartments and Biscayne Apartments, two multifamily properties totaling 112 units in Mauston and Racine, for $10.1 million. An Iowa-based multifamily investor and developer purchased the assets from an Iowa-based multifamily investor. CBRE’s Max Colby, Sean Beuche, Matson Holbrook, Patrick Gallagher and Gretchen Richards represented the seller. Riverwood Apartments is proximate to I-90 and minutes away from Decorah Lake. Built in 1994, the 32-unit property features a mix of one-, two- and three-bedroom floor plans. Biscayne Apartments is located …

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IllinoisInvestment SalesMidwestNews

Woodland Rental Properties Acquires 22 Units in Marion, Illinois

by Channing Hamilton

MARION, ILL. — A division of Woodland Rental Properties LLC, managed by Heartland Realty & Rentals Inc., has acquired 22 recently built apartments situated near downtown Marion, a city located roughly 120 miles southeast of St. Louis, Missouri. The company states that the deal is part of a larger strategic investment. Roman Basi and Jason Powell represented Heartland on an internal basis. The units will be available for leasing as they come online.

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Build-to-RentDevelopmentMidwestNebraskaNews

Stark Enterprises Secures Construction Financing for Build-to-Rent Community in Gretna, Nebraska

by Channing Hamilton

GRETNA, NEB. — Stark Enterprises, in partnership with Stark Living and Arbor Construction, has secured construction financing for Teal Ridge Village, a 244-unit build-to-rent (BTR) project in Gretna, about 22 miles southwest of Omaha, Nebraska. Teal Ridge Village will feature one-, two- and three-bedroom single-level residences on a 43.7-acre site. Each home will offer granite countertops, stainless steel appliances, covered front porches, private patios, walk-in closets and attached two-car garages. Units will also include internet connectivity, cable access and in-unit washer and dryer systems. Residents will have access to amenities …

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Investment SalesMidwestNewsWisconsin

PPR Capital Management Acquires 232-Unit Property in Metro Milwaukee

by Channing Hamilton

BROWN DEER, WIS. — PPR Capital Management has acquired The Villas at Foxwood, a 232-unit townhome-style community in Brown Deer, approximately 11 miles north of Milwaukee. The property traded hands for $38.3 million. The acquisition marks the firm’s first investment in the Milwaukee Metropolitan Statistical Area.  The Villas at Foxwood spans 21 acres. Each residence features a private entrance, attached garage, fireplace and washer and dryer. PPR also plans to upgrade units with stainless steel appliances and new flooring. The investment structure includes a total equity investment of $19.4 million, with …

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Van Dyke Village Townhomes
Investment SalesMidwestMinnesotaNews

Dadder’s Estates Acquires Townhome Community Near St. Paul, Minnesota, for $2.7 Million

by Channing Hamilton

MAPLEWOOD, MINN. — Dadder’s Estates LLC has acquired $2.7 million sale of Van Dyke Village Townhomes, a 20-unit community located at 2191 Van Dyke St. in Maplewood, eight miles northeast of St. Paul, Minnesota. Built in 2004, Van Dyke Village Townhomes is situated on 3.6 acres. The complex offers two- and three-bedroom units with attached garages. Evan Miller, Chris Collins, Eric Wagner and Matthew Shide of Marcus & Millichap represented the seller and original developer, Van Dyke Street Homes LP, in the transaction. Additionally, Miller and Collins procured the buyer.

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FinanceMidwestNewsWisconsin

MMCC Arranges $10.4 Million Loan for Refinancing of Complex in Appleton, Wisconsin

by Channing Hamilton

APPLETON, WIS. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $10.4 million loan for the refinancing of Urbane115 Apartments, a 46-unit complex in Appleton, about 32 miles southwest of Green Bay, Wisconsin. The recently completed community offers a mix of studio to two-bedroom units. Robert Bhat of MMCC arranged agency financing on behalf of the private borrower. The five-year, nonrecourse loan features a 65 percent loan-to-value ratio and an interest rate of 6.1 percent.

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