Midwest
Detroit: Far From Singing the Blues
After years of little multifamily supply, development is beginning to pick up, with more than 4,000 units under construction. Rents increased 4.2 percent year-over-year as of April, Yardi Matrix data shows.
Duke Realty Makes Promotions
Steven Schnur is a veteran in the company since 2003, having held roles as regional executive vice president and senior vice president of Duke Realty’s operations.
NKF to Market 3.3 MSF Twin Cities Development
Viking Lakes will add office, retail, hospitality, multifamily, medical office and a sports medicine center to Eagan, Minn.
St. Louis Gears Up
Despite a slowly declining population, the city continues to see positive economic trends. Developers ramped up apartment deliveries in 2016, when 1,370 units came online, according to Yardi Matrix.
Indiana Jiffy Lube Portfolio Changes Hands for $2.5M
The Boulder Group represented both the seller—a global real estate fund—and the buyer—a domestic private investment group—in the two-property transaction.
Nashville-Area Industrial Building Lands $18M Loan
Mission Capital refinanced existing debt on a fully occupied, recently upgraded industrial property, Interchange Business Center, a 792,000-square-foot building in La Vergne, Tenn.
Natixis Provides $35M Financing for Retail Center Acquisition
Colliers International arranged the financing used for the purchase of a 276,333-square-foot shopping center in Arlington Heights, Ill. The loan will be granted in two tranches.
Leasing Begins at Chicago’s SixForty High-Rise
The 23-story, 250-unit tower will offer a mix of luxury residential and retail space and will be completed in September 2017. This is the second joint project for JDL Developments and The Habitat Co.
Iron Gate Self-Storage Portfolio Changed Hands
The sale of the 1,466-unit portfolio was the largest self-storage transaction in Elkhart County, Ind. The six facilities have recently undergone improvements worth $1.1 million.
Millennium Properties Brokers Sale of Two Retail Centers
The properties total more than 19,500 square feet of retail, restaurant and office space and are located in Barrington and Elmhurst, two Chicago suburbs.