by Kipp Gillian | Jan 22, 2024 | Multifamily
CIBC has announced financing for an affordable housing initiative, including a $17.6 million construction loan, a $708,000 permanent loan and a $26 million investment in Boulevard Apartments Preservation, LP. The funding will be used to acquire and rehabilitate the...
by Kipp Gillian | Jan 22, 2024 | Multifamily
JLL has closed the $53.4 million sale of and the $25.5 million financing for Elan West End, a 164-unit, newly built multi-housing community in St. Louis Park, Minnesota. JLL worked on behalf of the seller and procured the buyer. The firm also represented the new owner...
by Kipp Gillian | Jan 22, 2024 | Retail
An affiliate of Core Acquisitions has completed shopping center acquisitions totaling 203,000 square feet of space in Tinley Park and Schaumburg. The seller of both assets was DRA Advisors. Park Center in Tinley Park is a 132,000-square-foot shopping center anchored...
by Kipp Gillian | Jan 22, 2024 | Multifamily
The Build-to-Rent (BTR) market in Minneapolis-St. Paul is benefiting from some of the area’s dynamics that attract developers. Due to strong employment growth and high-wage earners that developers target, the Twin Cities area is seeing steady BTR activity,...
by Kipp Gillian | Jan 22, 2024 | Industrial
Construction costs in Seattle rose 7.76% between October 2022 and October 2023, according to a fourth-quarter construction cost report from Rider Levett Bucknall (RLB). National construction costs jumped 5.9% over that period. In addition to higher borrowing costs and...