Tuesday, September 1, 2026
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Midwest

IllinoisLoansMidwestMultifamily

Knighthead Funding Provides $32M Loan for Refinancing of Metro Chicago Apartment Community

by Kristin Harlow

GLENVIEW, ILL. — Knighthead Funding has provided a $32 million loan for the refinancing of Cerca, a newly constructed multifamily community in Glenview. The loan refinances a previous construction facility and provides proceeds to pay off the property’s preferred equity investor. Jonathan Daniel, Peter Illuzzi and Joseph Marraccini of Knighthead originated the loan on behalf of the borrower, The Drake Group. Amenities at the 62-unit property include fitness rooms, a private dining area, conference rooms, an amenity deck, dog spa and grilling stations. The property also includes 6,886 square feet of ground-floor retail space. Daniel Gillard, Philip Galligan, Michael Gurwin and Ryan Planek of JLL represented the borrower.

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AcquisitionsHealthcareMidwestMinnesota

Davis Acquires Minnesota Outpatient Medical Portfolio for $31.3M

by Kristin Harlow

MINNESOTA — Davis, a national healthcare real estate investment, development and management firm based in Minneapolis, has acquired a four-building outpatient medical portfolio from Lakeview Clinic for $31.3 million. The 114,346-square-foot portfolio includes properties in Waconia, Norwood, Chaska and Watertown. As part of the transaction, Lakeview extended its leases at each property. Founded in Waconia in 1957, Lakeview has grown to 62 providers across four locations offering a range of primary and specialty care services.

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AcquisitionsMidwestMultifamilyWisconsin

Northmarq Brokers $31M Sale of Multifamily Property in Sheboygan, Wisconsin

by Kristin Harlow

SHEBOYGAN, WIS. — Northmarq has brokered the $31 million sale of Harbor Estates, a 186-unit multifamily property in Sheboygan, which is north of Milwaukee. Alex Malzone, Jake Lamb, Parker Stewart and Dominic Martinez of Northmarq represented the seller, a partnership between Harmoniq Residential and Midloch Investment Partners. Built in 2002, Harbor Estates offers a mix of one-, two- and three-bedroom units. Amenities include a clubhouse, fitness center, putting green, underground parking and a pool.

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LoansMidwestMinnesotaOffice

CBRE Arranges $11M Refinancing for Grandview Square Office Building in Edina, Minnesota

by Kristin Harlow

EDINA, MINN. — CBRE has arranged $11 million in refinancing for Grandview Square, a 98,561-square-foot office building in Edina. Billy Mork, Joel Torborg and Mike Vannelli of CBRE secured a five-year, fixed-rate loan on behalf of Capital Partners, a Minnesota-based commercial real estate investment and management firm. A life insurance company provided the loan, which features interest-only payments for the full term and a 5.89 percent interest rate. Built in 2001 and renovated in 2025, the property offers surface and underground heated parking, a fitness center, golf simulator, shared conference rooms, a tenant lounge and outdoor patio. The three-story building is fully leased to 16 tenants.

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AcquisitionsIndustrialMichiganMidwest

Phoenix Investors’ Affiliate Acquires 1.8 MSF Industrial Complex in Saginaw, Michigan

by Matthew Auchincloss

SAGINAW, MICHIGAN — An affiliate of Phoenix Investors, a company specializing in revitalizing former manufacturing sites, has acquired a three-building, 1.8 million-square-foot industrial complex in Buena Vista Charter Township, which borders the city of Saginaw, from international auto supplier Nexteer Automotive. The sales price was not disclosed. The three buildings are known locally as Plants 5, 6/1 and 7. Nexteer will continue to occupy nearly 1.3 million square feet across Plants 6/1 and 7, and those facilities are expected to continue operating as normal during the transition period. Approximately 552,000 square feet in Plant 5 is currently available for lease. As of January 2026, the portfolio of Milwaukee, Wis.-based Phoenix Investors totaled 85 million square feet spanning 27 states.

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DevelopmentLoansMidwestOhioRetail

Associated Bank Provides $9M Loan for 12-Acre Retail Development in Metro Columbus

by Matthew Auchincloss

DELAWARE, OHIO — Associated Bank has provided a $9 million loan to GTZ Properties for the development of Trailhead Crossing, a 12-acre retail property located at 1335-1131 U.S. Route 36 in Delaware, a northern suburb of Columbus. The project consists of three buildings occupied by Chick-fil-A, Chipotle Mexican Grill and Take 5 oil change. A second, three-tenant strip center will be occupied by Dunkin’, Nothing Bundt Cakes and Pacific Dental Services. The project also contains two pad-ready sites, one of which is pending sale to a national daycare company. All Phase I tenants are expected to open by spring 2027. Phase II of the development will be anchored by a big box national retailer. 

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AcquisitionsIllinoisMidwestMultifamily

Greenstone Partners Closes Two Multifamily Sales in Chicago for $3.2M

by Matthew Auchincloss

CHICAGO — Greenstone Partners has closed two multifamily sales totaling $3.2 million in Chicago’s Wicker Park and Bridgeport neighborhoods. In the first transaction, the firm brokered the sale of a recently renovated eight-unit multifamily property located at 1226 N. Greenview Ave. in Wicker Park. The property features six one-bedroom, one-bathroom units and two two-bedroom, two-bathroom units, each with hardwood flooring, in-unit laundry, private balconies and granite countertops. Jordan Multack of Greenstone Partners facilitated the $2.2 million transaction. The firm also arranged the sale of a three-unit multifamily building with an additional non-conforming coach house and an adjacent development lot located at 3201-3203 S. May St. in Bridgeport. Units include individual furnaces and hot water heaters and in-unit laundry. Multack and Jacob Goldstein, also of Greenstone Partners, arranged the $1 million transaction. 

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AcquisitionsMidwestOhioRetail

Cooper Group Arranges Sale of 27,299 SF Retail Property in Cincinnati 

by Matthew Auchincloss

CINCINNATI — The Cooper Commercial Investment Group has arranged the sale of Spring Hill Center, a 27,299-square-foot multi-tenant retail property located in Cincinnati. Dan Cooper of the Cooper Commercial Investment Group represented the seller, an Ohio-based investment group, in the transaction. The buyer was a New York-based investor. The deal closed at an 8 percent cap rate. Spring Hill Center is anchored by Dollar General. 

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AcquisitionsIllinoisMidwestMultifamily

JVM Realty Buys 280-Unit Apartment Community in Oswego, Illinois

by Matthew Auchincloss

OSWEGO, ILL. — JVM Realty Corp. has purchased Springs at Oswego, a 280-unit apartment community located 48 miles west of Chicago, and rebranded the community as Trillium at Oswego. Continental Properties sold the property, and Cushman & Wakefield brokered the deal. The purchase price was not disclosed. Located at 801 Fifth St., the gated community was completed in 2019 and features townhome-style units across two-story residential buildings. Residences come in studio, one-, two- and three-bedroom floor plans. Amenities include a heated pool, 24-hour fitness center, a clubhouse with lounge and entertainment areas, outdoor grilling stations, fire pit, car wash, two dog parks and gated access.

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AcquisitionsMidwestMultifamilyNebraskaSeniors Housing

Agemark Acquires, Rebrands Seniors Housing Community in Omaha

by Matthew Auchincloss

OMAHA, NEB. — Agemark Senior Living has acquired Esprit Whispering Ridge, an assisted living and memory care community located in Omaha.  Agemark has rebranded the property as The Bellflower at Whispering Ridge. Along with its undisclosed investment partner, Agemark plans to invest approximately $1.3 million in capital improvements at the community. Moving forward, The Bellflower will also offer independent living and “assisted living plus” units. This acquisition brings Agemark’s Omaha portfolio to five communities totaling more than 450 units. 

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