Midwest

Autumn Breeze in Noblesville, Indiana
IndianaInvestment SalesMidwestNews

Lightstone Group Sells Property Near Indianapolis for $59.5 Million

by Channing Hamilton

NOBLESVILLE, IND. — Lightstone Group has sold Autumn Breeze, a 280-unit community in Noblesville, roughly 25 miles north of Indianapolis, to IRT for $59.5 million. Located at 14901 Beauty Berry Lane, the community offers a mix of one-, two- and three-bedroom floor plans. The average unit size is 1,066 square feet. The property was built in 2009. Amenities include a fitness center, pet spa, coffee bar, game room and outdoor pavilion. Hannah Ott, George Tikijian, Cam Benz, Clair Hassfurther, Ryan Stockamp and Sean Pingel of CBRE represented the seller in …

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The Jade Residences of Waterfall in Darien, Illinois
IllinoisInvestment SalesMidwestNews

Marcus & Millichap Brokers Sale of 70-Unit Complex in Darien, Illinois

by Channing Hamilton

DARIEN, ILL. — Marcus & Millichap has brokered the sale of The Jade Residences of Waterfall Glen, a 70-unit asset located at 2305 Sokol Court in Darien, 24 miles southwest of Chicago. The property was constructed on 2.8 acres in 2024. The average unit size is 977 square feet. Amenities include a fitness center, party room, dog park and barbecue area.  Ryan Engle, Kyle Stengle and Andrean Angelov of Marcus & Millichap represented the seller in the deal. Engle and Angelov also procured the buyer. Both parties were private investors. …

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The Waverly on the Lake in Belleville, Michigan
Investment SalesMichiganMidwestNews

Dwight Mortgage Trust Provides $88.5 Million Acquisition Loan for Community Near Detroit

by Channing Hamilton

BELLEVILLE, MICH. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided an $88.5 million bridge acquisition loan for The Waverly on the Lake in Belleville, 30 miles west of downtown Detroit. Loan proceeds will facilitate the acquisition of the property, fund capital expenditures for unrenovated units and cover closing costs for Pepper Pike Capital Partners. David Scheer of Dwight originated the loan. The garden-style community consists of 1,046 apartments on a 99-acre site along the shores of Belleville Lake. Residents have access to a boat launch and …

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Affordable HousingIllinoisMidwestNews

Community Builders Delivers $44 Million Affordable Housing Community in Chicago

by Channing Hamilton

CHICAGO — The Community Builders has completed Canvas at Leland Plaza, a $44 million affordable housing property located in Chicago’s Lincoln Square neighborhood. Canvas at Leland Plaza consists of 63 units. The Chicago Housing Authority (CHA) is providing funding for 16 of the units through its project-based voucher program, representing an investment of more than $13.3 million over the next 30 years.  Shared amenities at the complex include package and bike rooms, storage space, a resident lounge and terrace. The property also offers commercial space, outdoor seating and parking. Financial …

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Valley Ridge in Rossville, Georgia
FeaturesFinanceFrom the MagazinesInvestment SalesMidwestNortheastSoutheastTexasWestern

Stage Set for Late-Year Uplift in 1031 Deals

by Channing Hamilton

Late last summer, optimism ran steady across the multifamily investment sales market. Prior to the Federal Reserve’s initial rate cut in September 2024, interest rates had remained stable throughout the year. The outlook was positive. But that more ebullient market proved temporary.  The Fed’s interest rate cut had a positive effect on the secured overnight financing rate (SOFR), which fell from 5.3 percent on Sept. 18, 2024, to 4.3 percent in early February 2025. The U.S. 10-year Treasury yield rose during the same period. On Sept. 18, 2024, the 10-year …

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Investment SalesMidwestNewsNorth Dakota

Gindi Equities Acquires 117-Unit Community in Fargo, North Dakota

by Channing Hamilton

FARGO, N.D. — Gindi Equities has acquired Amber Crossing Apartment Homes, a 117-unit complex located at 5170 Amber Valley Parkway in Fargo, for an undisclosed price. Property Resources Group was the seller. Built in 2002, Amber Crossing offers one- to three-bedroom units. Gindi Equities plans to make interior refurbishments such as updating the kitchen and bathroom features, as well as renovating common spaces and outdoor amenities.

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Resident Retention at Risk webinar panelists
FeaturesIndustry ContentLeasing & MarketingMidwestNortheastOperationsSoutheastStudent HousingTechnologyTexasWestern

Webinar: Resident Retention at Risk — How to Prevent Quiet Leaving

by Sarah Daniels

The Feb. 25 webinar “Resident Retention at Risk — How to Prevent Quiet Leaving,” sponsored by Opiniion, brought together industry experts to discuss the most pressing challenges in multifamily and student housing and their strategies to improve resident satisfaction and retention. This one-hour discussion explored key factors influencing move-outs, including communication gaps, maintenance concerns and lease renewal hesitations. Speakers shared insights on effective property management strategies, community-building initiatives and engagement tactics that drive resident loyalty. The session highlighted best practices for feedback collection, strategic development and the role of online …

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Green Acres in Saginaw, Michigan
FinanceMichiganMidwest

MMCC Brokers $3.3 Million Loan for Refinancing of Michigan Portfolio

by Channing Hamilton

SANDUSKY, MICH. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $3.3 million loan for the refinancing of a portfolio of four properties totaling 112 units within the “Thumb Region,” the lower peninsula of Michigan. The portfolio features a mix of studio to three-bedroom units. Luke Lamoreaux of MMCC arranged the loan with a Michigan-based bank on behalf of the private borrower. The three-year loan featured a 6.9 percent interest rate with 12 months of interest-only payments followed by a 25-year amortization.

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Paul Waterloo and Harrison Pinkus
IllinoisMidwestNewsPeople News

Interra Realty Promotes Paul Waterloo and Harrison Pinkus

by Channing Hamilton

CHICAGO — Interra Realty, a Chicago-based investment services firm, has promoted Paul Waterloo to the role of managing partner, as well as Harrison Pinkus to managing director.  Waterloo joined Interra in 2017. The most recent middle-market multifamily deals Waterloo has arranged include the $8.4 million sale of an 18-unit, new-construction asset in Wheaton, Illinois, and the $7.8 million sale of an 84-unit property in Waukegan, Illinois. Prior to this, he was a sales executive with ADP. He received a Bachelor of Science in marketing from the University of Illinois Urbana-Champaign. Since joining the company …

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DevelopmentIllinoisMidwestNews

Redwood Living Completes 124-Unit Community in Crystal Lake, Illinois

by Channing Hamilton

CRYSTAL LAKE, ILL. — Redwood Living Inc. has completed Redwood Crystal Lake, a 124-unit community in Crystal Lake, roughly 50 miles northwest of Chicago. The property consists of 25 townhome-style buildings housing four to six units each. Each of the two-bedroom units feature an attached two-car garage and patio. Amenities include green spaces, pet waste stations and designated guest parking. McShane Construction Co. is the general contractor. Mann Parsons Gray Architects designed the community.

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