DETROIT — Madison Capital Group has arranged $21.2 million in permanent senior debt financing for a 266-home single-family rental portfolio throughout metro Detroit. Detroit Renaissance Funds owns and operates the portfolio. Madison Capital is also an equity investor in the portfolio, which consists of a mix of renovated single-family homes and duplex/multiplex residences primarily with three- and four-bedroom units. A significant portion of the units are supported by Section 8 programs. At present, the portfolio is more than 96 percent occupied.
WEST BEND, WIS. — CBRE has arranged the sale of Trail’s Edge Apartments, a 120-unit apartment community in West Bend, a northern suburb of Milwaukee. Wisconsin Lakefront Property Management LLC acquired the property from an ownership group that included an entity related to American Construction Services, the asset’s original developer. CBRE’s Sean Beuche, Matson Holbrook and Gretchen Richards represented the seller. Built in 2022, the property features a range of one- and two-bedroom floor plans ranging from 785 to 1,465 square feet. Amenities include a fitness center, picnic area, community room, pet washing station and interior car wash bay.
BARRINGTON, ILL. — Joseph Nicholas Construction (JNC), in partnership with Murgado Automotive Group, has broken ground on a new Porsche dealership showroom and service center at 24 E. Dundee Road in Barrington, about 40 miles northwest of downtown Chicago. The two-story, 133,960-square-foot facility will be the largest Porsche dealership in Illinois and one of the largest in the country, according to JNC. The facility will employ 80 to 100 people when it opens in late spring 2027. Upon completion, Barrington Porsche will serve as the new location for Murgado Automotive Group’s existing Porsche dealership, which is currently operating within the existing Motor Werks of Barrington auto mall, a 45-acre automotive sales campus that also houses BMW, Mercedes-Benz, Cadillac, Honda and Infiniti dealerships. The new showroom will have ample space across the first and second floors to display the full line of Porsche models. The basement level can store up to 90 inventory cars.
ST. LOUIS — ARCO National Construction has leased all remaining vacancy at Clayton Executive Center I, bringing the property to full occupancy. With this expansion, ARCO now occupies the entire building. An affiliate of Stanton Road Capital owns the property. Tom Bajardi of Sansone Group represented ownership in the lease. ARCO initially leased 60,000 square feet and is now expanding by an additional 35,000 square feet. Clayton Executive Center consists of two office buildings, both of which are now fully leased.
CHICAGO — The Missner Group and Base 3 have begun construction on Oxxford Lofts, a redevelopment project in Chicago’s West Loop that will transform a former industrial building into a 112-unit multifamily community. The building at 1220 W. Van Buren St. is named for its previous owner, Chicago clothing company Oxxford Clothes. The roughly $42 million project will reposition the property into a modern residential offering while preserving the character of the existing structure. Plans call for a full gut renovation, all new building systems, upgraded sustainability features and a variety of unit layouts. Amenities will include a rooftop deck, fitness center, coworking space and bike storage. Twenty percent of the units will be designated as affordable housing. The Missner Group is serving as general contractor and is also a financial partner through its joint venture with Base 3. Leasing is expected to begin in spring 2027 through Base 3 Development.
CHICAGO — The Community Builders (TCB) has opened the Sankofa Village Wellness Center (SVWC), a new community health and wellness hub addressing health inequality in Chicago’s West Garfield Park. According to TCB, recent studies have shown that life expectancy is 20 years lower in West Garfield Park compared with Chicago’s more affluent downtown communities. Reasons include insufficient access to quality healthcare, economic opportunity and quality foods. The vision for SVWC began in 2019 when faith leaders, Rush University, community organizations and TCB formed the Garfield Park Rite to Wellness Collaborative (GPRWC). In 2022, SWVC was a co-recipient of the Pritzker Traubert Foundation’s “Chicago Prize” award. Ultimately, the Collaborative, TCB and community partner the MAAFA Redemption Project secured over $44 million in funding. The three-story, 60,000-square-foot community hub brings healthcare, prevention and wellness services under one roof. SVWC will serve roughly 6,000 patients annually and will also offer community spaces, including drop-in childcare, an indoor gymnasium and walking track, a fitness center and space for screenings, primary medical care and reproductive, behavioral, dental health services and a credit union. Tenants include Erie Family Health Centers, Equal Hope, Rush University Medical Center, West Side United, the YMCA and GPRWC.
MOUNT CLEMENS, MICH. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $3.3 million loan for the acquisition of Hubbard Oaks, a 60-unit multifamily property in Mount Clemens, about 25 miles north of Detroit. Luke Lamoreaux of MMCC secured the five-year, fixed-rate loan through a local bank on behalf of the private client. The property features a mix of one- and two-bedroom units.
CLAYTON, MO. — The City of Clayton and the Clayton Community Foundation have reopened the historic Hanley House. Located at 7600 Westmoreland Ave. in Hanley Park, the Hanley House is Clayton’s oldest surviving home and is listed on the National Register of Historic Places. The property was built in 1855 by Martin Franklin Hanley. During the opening event on May 12, Susan Hanley, a descendent of the Hanley family, will plant an oak tree at the house. Closed to the public since 2020, the Hanley House will fully reopen for scheduled public tours in 2027.
PLAINFIELD, ILL. — JVM Realty Corp. has entered into a joint venture partnership with DRA Advisors to acquire Enclave at 127th, a 340-unit multifamily community in Plainfield. Built in 2013, the property offers a mix of studio, one-, two- and three-bedroom units. The partnership plans to complete apartment unit renovations and amenity enhancements. Enclave at 127th has been part of JVM’s portfolio since 2014, and partnering with DRA will enable the firm to enhance the resident experience through strategic capital improvement, says Jay Madary, president and CEO of JVM.
BARTLETT, ILL. — Illinois Tool Works (ITW) has moved into a 60,050-square-foot industrial space at Blue Heron Business Park in Bartlett, culminating a seven-month site selection, lease negotiation and space build-out process. The property is located on the southeast corner of Kenyon Road and Illinois Route 25. Dan Brown and Mike Antonelli of Brown Commercial Group represented the developer and owner, Cratos Industrial. The duo is marketing the additional space in the 166,573-square-foot development for lease. ITW is utilizing the space for its Electronic Component Solutions group and will have 60 employees at the site. The ITW Formex and ITW Lumex brands operate out of the new facility, creating specialized safety and technology products and solutions for global companies in the electric vehicle, data center, appliance and other sectors.
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