Midwest

Jason Tennenbaum, Marquette Cos.
IllinoisMidwestNewsPeople News

Marquette Cos. Appoints New Division Presidents, CFO

by Channing Hamilton

NAPERVILLE, ILL. — Marquette Cos., a developer and property manager based in Naperville, has appointed Trevor Ryan as partner and president. In this role, Ryan will focus on overall organizational strategy and identify new investment opportunities. Additionally, the company selected Jim Cunningham as partner and president of Marquette Management, the property management subsidiary of Marquette Cos. Cunningham will lead the operations side of the business. He will focus on improving customer experience and operational efficiencies, as well as direct the company’s adoption of artificial intelligence. Finally, Jason Tennenbaum joined the …

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Daniel Levin
Company NewsIllinoisMidwestNewsPeople News

Habitat Co. Founder Daniel Levin Dies at Age 94

by Channing Hamilton

CHICAGO — Daniel Levin, founder and chairman of Chicago-based developer and property manager Habitat Co., has passed away at the age of 94. Levin founded the company in 1971 to manage a series of housing projects totaling 25,000 units across several states, including South Commons, a 28-acre urban renewal project on Chicago’s South Side. Habitat now has $3 billion in assets and 10,000 units under management. Levin began his career as a lawyer at a small firm in Detroit, where he represented the Chicago-based developer of Lafayette Park, a 78-acre mixed-use …

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Rafter Apartments in Minneapolis
Investment SalesMidwestMinnesotaNews

Joint Venture Sells 26-Story Rafter Apartments in Minneapolis

by Channing Hamilton

MINNEAPOLIS — A joint venture consisting of Mortenson, The Excelsior Group and an institutional partner has sold Rafter Apartments, a 26-story high-rise community located at 333 East Hennepin Ave. in the Northeast neighborhood of Minneapolis. Boise, Idaho-based developer and operator Roundhouse acquired the property for an undisclosed price. Completed in 2019, Rafter Apartments offers a mix of studios, one-, two- and three-bedroom units. Amenities include a rooftop pool with a sundeck, fitness center, clubroom, coworking spaces. The property also features a maker’s room with work benches, community tools and tool …

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Liberty Square Flats in Wheaton, Illinois
IllinoisInvestment SalesMidwestNews

Interra Realty Brokers Two Deals in Wheaton, Illinois, Totaling $15.4 Million

by Channing Hamilton

WHEATON, ILL. — Interra Realty has brokered the sale of two Liberty Square Flats buildings in Wheaton, 30 miles west of Chicago. Liberty Square Flats totals 18 units and traded for $8.4 million, while the 44-unit Lorraine Court Apartments sold for $7 million. Situated at 302 W. Liberty Drive, Liberty Square Flats was built in 2024. Amenities include a rooftop deck, dog washing station, outdoor patio, storage closets, heated garage parking, electric vehicle chargers, surface parking and keyless access. Lorraine Court Apartments, located on South Lorraine Road, was built in …

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Colony Lofts in Toledo, Ohio
DevelopmentMidwestNewsOhio

Continental, Hallmark Deliver Colony Lofts in Toledo, Ohio

by Channing Hamilton

TOLEDO, OHIO — Continental Real Estate Cos. and Hallmark Communities have completed development of Colony Lofts, a 262-unit community in Toledo. Colony Lofts offers amenities such as a pool, grilling stations, fitness center, business center, clubhouse and coffee bar. The property also includes retail spaces, electric vehicle charging stations and an outpost of Central Ohio restaurant chain The Old Bag of Nails Pub. Monthly rents start at $964 for a studio unit, according to the property’s website. Coastal Ridge is the property manager.

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Haven Hoffman Estates in Hoffman Estates, Illinois
IllinoisInvestment SalesMidwestNews

Eastham Capital, Bender Cos. Purchase Asset Near Chicago for $75.8 Million

by Channing Hamilton

HOFFMAN ESTATES, ILL. — Eastham Capital and Bender Cos. have acquired Haven Hoffman Estates, a 550-unit property in Hoffman Estates, 33 miles west of Chicago. The asset traded hands for $75.8 million. The identity of the seller was not disclosed. Eastham Capital obtained a majority interest in the deal through its current fund, Eastham Capital Fund VI LP. Bender Cos. will oversee the day-to-day management of the property.  Built in 1970, the property offers amenities such as a pool, clubhouse, fitness center, work-from-home suites and an outdoor dining area. The …

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Columbus Plaza in Chicago
FinanceIllinoisMidwestNews

Habitat Receives $102.4 Million for Refinancing of Columbus Plaza in Chicago

by Channing Hamilton

CHICAGO — Habitat has received a $72.9 million Freddie Mac loan, as well as $29.5 million in equity from New York-based Torchlight Investors for the refinancing of Columbus Plaza, a high-rise community located in downtown Chicago. Torchlight Investors joins Habitat as an equity partner in the property. Northmarq arranged the Freddie Mac loan. The refinancing replaces a $93 million loan from 2017 that matured in November. Habitat and its partners will use the new loan and capital structure to plan renovations and other capital improvements. Columbus Plaza consists of 534 …

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MidwestNewsPeople NewsWisconsin

MLG Names Billy Fox as President, Dan Price as Chief Investment Officer

by Channing Hamilton

BROOKFIELD, WIS. — Brookfield-based investment firm MLG Capital has appointed Billy Fox to the position of president and principal. Additionally, the company promoted Dan Price to the role of Chief Investment Officer (CIO) and principal. Fox has been with MLG for 10 years and currently leads the firm’s Legacy Fund. As president, he will lead team building efforts, investment strategy and overall client experience. He will continue to serve on the company’s investment committee. Price has worked with MLG for four years. He currently leads the firm’s Midwest acquisition team …

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Investment SalesMidwestMinnesotaNews

Marcus & Millichap Brokers $7.3 Million Sale of Property in Coon Rapids, Minnesota

by Channing Hamilton

COON RAPIDS, MINN. — Marcus & Millichap has arranged the $7.3 million sale of Crest Oak Apartments, a 60-unit property in Coon Rapids, roughly 15 miles north of Minneapolis. Built in 1972, Crest Oak Apartments offers a mix of one-, two- and three-bedroom units across 47,150 rentable square feet. Abe Roberts and Michael Jacobs of Marcus & Millichap represented the seller, which was disposing of a four-building portfolio. The asset sold to a 1031 exchange buyer.

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Summit Crossing in Kansas City, Missouri
DevelopmentMidwestMissouriNews

MLG Capital Purchases 336-Unit Community in Kansas City, Missouri

by Channing Hamilton

KANSAS CITY, MO. — MLG Capital has acquired Summit Crossing, a garden-style property in Kansas City. Built in phases and completed in 2019, the community features 336 apartments and townhomes. Approximately 60 percent of units are townhomes with attached garages. Residents have access to shared amenities such as two pools, a clubhouse, fitness center, business center and pickleball courts.

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