Tuesday, September 16, 2025
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AcquisitionsIndianaLoansMidwestMultifamily

Greystone Structures $31.3M in Acquisition Financing for Multifamily Property in Merrillville, Indiana

by Kristin Harlow

MERRILLVILLE, IND. — Greystone has provided a $26.3 million Freddie Mac loan to finance the acquisition of Tiberon Trails Apartments in Merrillville. Additionally, Greystone Equity Services brought in MORE Capital, an affiliate of Morgan Properties, as a preferred equity provider. MORE Capital supplied a nearly $5 million preferred equity loan in conjunction with the Freddie Mac financing. Eric Rosenstock of Greystone originated the Freddie Mac loan on behalf of the borrower, Bayshore Properties. The loan features a fixed interest rate over a five-year term with a 30-year amortization and two years of interest-only payments. Tiberon Trails comprises 374 units with a mix of studio, one-, two- and three-bedroom layouts. Amenities include a playground and fitness center.  

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AcquisitionsMidwestMissouriMultifamily

EHP Capital, Aspen Funds Buy Hunters Glen Apartments in Kansas City for $27M

by Kristin Harlow

KANSAS CITY, MO. — EHP Capital and Aspen Funds have purchased Hunters Glen Apartments in Kansas City for $27 million. The partnership will launch a comprehensive renovation plan to modernize interiors and upgrade amenities at the 253-unit multifamily community. The property was built in 1975 and includes studio through three-bedroom floor plans ranging from 506 to 1,127 square feet, according to Apartments.com.

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IndustrialLoansMidwestWisconsin

Associated Bank Provides $6.5M Acquisition Loan for Wisconsin Industrial Property

by Kristin Harlow

WAUKESHA, WIS. — Associated Bank has provided a $6.5 million loan for the acquisition of Ridgeview Industrial Center IV in Waukesha. The 89,405-square-foot building, constructed in 2003 and remodeled in 2023, is fully leased to two tenants. The property is located just off the intersection of I-94 and Redford Boulevard, with logistics access to I-41 and I-43. The borrower, Capital Partners, currently manages 16.2 million square feet of industrial properties. Randy Stille of Associated Bank handled the loan arrangements and closing.

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AcquisitionsIllinoisMidwestMultifamily

SVN Chicago Commercial Brokers $1.4M Sale of Chicago Apartment Building

by Kristin Harlow

CHICAGO — SVN Chicago Commercial has brokered the $1.4 million sale of an apartment building located at 1329 W. 18th St. in Chicago’s Pilsen neighborhood. The asset features five recently rehabbed apartment units, rear garage parking and a newly signed retail lease with a five-year term. SVN’s Cawthon-Labriola Group represented both the out-of-state buyer and the seller.

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IllinoisIndustrialLeasing ActivityLee & AssociatesMidwest

Related Products Inks 4,800 SF Industrial Lease in Elmhurst, Illinois

by Kristin Harlow

ELMHURST, ILL. — Related Products, a packaging company, has signed a 4,800-square-foot industrial lease at 736-778 Industrial Drive in the Chicago suburb of Elmhurst. Dustin Albers of Lee & Associates represented the tenant. The property owner, Value Industrial Partners LLC, was self-represented.

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DevelopmentMichiganMidwestOffice

Ford to Relocate Headquarters in Dearborn, Michigan to 2.1 MSF Campus, Tear Down Former ‘Glass House’

by Kristin Harlow

DEARBORN, MICH. — Ford Motor Co. has unveiled plans to open a new Ford World Headquarters at its Dearborn product development campus, the new Henry Ford II World Center. The 2.1 million-square-foot property will house thousands of engineering, design and technology team members together in one collaborative space that is twice the size of the company’s current headquarters and built to accommodate double the employees. Construction is underway, and hundreds of employees are working in the building already. The majority of the facility will be complete this year, but work will continue through 2027 on a final section of the site. Upon completion, up to 4,000 people can work from the headquarters with a total of 14,000 employees within a 15-minute walk of the new World Headquarters building. Once Ford has vacated the former headquarters, dubbed the Glass House, the facility will be demolished over the course of 18 months. Ford plans to “repurpose the site as an asset to its teams and community.” Ford is working with the City of Dearborn on a plan for how the site can best serve employees and neighbors. Glass House, which totals 950,000 square feet, has housed Ford’s headquarters since 1956. Ford will …

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AcquisitionsIllinoisMidwestMultifamily

Eastham Capital Sells Central Park Apartments in Metro Chicago for $23.2M

by Kristin Harlow

FOREST PARK, ILL. — Eastham Capital has sold Central Park Apartments in Park Forest, a southern suburb of Chicago, for $23.2 million. Eastham acquired the 220-unit property for the portfolio of Eastham Capital Fund V LP in partnership with Bender Cos. in September 2019. At the time, Central Park Apartments marked the second collaboration between Eastham and Bender. To date, the companies have co-invested in 10 properties. Over the six-year hold period, ownership completed exterior renovations to Central Park Apartments, including parking lot resurfacing, sidewalk repairs and patio concrete upgrades. The property averaged more than 97 percent occupancy during the ownership period. The community at 11 Fir St. features a mix of one-bedroom units as well as two- and three-bedroom townhomes ranging from 724 to 1,326 square feet.

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DevelopmentIllinoisIndustrialMidwest

Contegra Completes 100,000 SF Manufacturing Facility in Mount Vernon, Illinois

by Kristin Harlow

MOUNT VERNON, ILL. — Contegra Construction has completed a 100,000-square-foot manufacturing facility for PVC-maker Manner Polymers in Mount Vernon. The solar-powered facility is located on a 30-acre site at 401 Fountain Place Drive near I-57 and I-64. McKinney, Texas-based Manner Polymers installed and integrated its advanced manufacturing equipment and systems for producing flexible PVC compounds. Once fully operational, the plant is expected to increase the company’s production capacity by 100 million pounds. Powered by a roof-mounted solar array and a 15-acre solar field, the project is anticipated to create more than 60 new jobs. The facility features 11 dock doors, three drive-in doors and 5,000 square feet of office space. Contegra led the design-build team that included architect Gray Design Group and structural engineer Alper Audi. The design-build subcontractor team included Jarrell Mechanical, Haier Plumbing, Bi-State Fire Protection and Clinton Electric.

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AcquisitionsIndianaMidwestRetail

Marcus & Millichap Arranges $3.8M Sale of Auto Repair Center in Greenwood, Indiana

by Kristin Harlow

GREENWOOD, IND. — Marcus & Millichap has arranged the $3.8 million sale of an auto repair center occupied by Caliber Collision in Greenwood. The property totals 33,511 square feet and is located at 155 Melody Ave. Caliber Collision occupies the asset under a double-net lease with more than three years remaining on the lease. Mitch Grant, Nicholas Kanich and Josh Caruana of Marcus & Millichap represented the Indiana-based seller. Dominic Sulo, Ryan Engle and Andrean Angelov of Marcus & Millichap procured the Illinois-based buyer.

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IowaLeasing ActivityMidwestRetail

Planet Fitness Opens 15,496 SF Location at Outlets of Des Moines

by Kristin Harlow

ALTOONA, IOWA — Planet Fitness has opened a 15,496-square-foot location at the Outlets of Des Moines in Altoona. Founded in 1992 in Dover, N.H., Planet Fitness is one of the largest franchisors and operators of fitness centers in the world. As of June 30, there were 2,762 clubs worldwide. Outlets of Des Moines is an open-air lifestyle center home to stores such as Coach Outlet, Polo Ralph Lauren, Kate Spade Outlet, Ann Taylor Factory Store and Nike Factory Store.

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