Thursday, July 9, 2026
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Midwest

IndianaMidwestOffice

Alidade Capital Acquires 118,954 SF Office Building in Indianapolis

by Kristin Harlow

INDIANAPOLIS — Alidade Capital WCP VII LLC, a wholly owned subsidiary of Alidade Capital Fund IV LP, has acquired Woodland Corporate Park VII in Indianapolis for an undisclosed price. The 118,954-square-foot office building is visible from I-465. The acquisition represents Michigan-based Alidade Capital’s second transaction in Indianapolis and brings the real estate private equity fund manager’s total portfolio in the area to approximately 292,000 square feet. Following the sale, Alidade Capital awarded John Vandenbark and Nick Svarczkopf of CBRE with the listing assignment for the property. Dan Richardson of CBRE represented the seller, Duke Construction Limited Partnership, in the transaction.

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Affordable HousingIllinoisMidwestMultifamily

$14.1M Affordable Housing Complex Opens on West Side of Chicago

by Kristin Harlow

CHICAGO — Harvest Homes, a 36-unit affordable housing complex, has opened in Chicago’s East Garfield Park. People’s Community Development Association of Chicago Inc. and The NHP Foundation developed the $14.1 million project. The property, located at 3512-46 W. Fifth Ave. on the city’s West Side, consists of four three-story buildings. The complex features a mix of two- to four-bedroom apartment units for residents earning up to 60 percent of the area median income. City support for the project included $1 million in tax increment financing and approximately $1.4 million in low-income housing and donation tax credits that generated $12.7 million in equity for the project. Other funding sources included a grant from the Federal Home Loan Bank and a private mortgage loan. The project is part of the city’s five-year housing plan to commit $1.3 billion in public and private funds to build, rehabilitate or preserve 41,000 units of affordable housing by the end of 2018.

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HealthcareMidwestMinnesota

HSA PrimeCare, USAA Real Estate Acquire 45,722 SF Medical Office Building in Plymouth, Minnesota

by Kristin Harlow

PLYMOUTH, MINN. — A joint venture between HSA PrimeCare and USAA Real Estate has acquired a 45,722-square-foot medical office building in Plymouth, a western suburb of Minneapolis. The purchase price was not disclosed. North Clinic anchors the building, which was built in 2014 and is located within Plymouth’s City Center. HSA PrimeCare and USAA Real Estate announced the formation of its joint-venture equity fund in 2016, which is positioned to acquire and develop healthcare facilities across the Midwest. HSA PrimeCare and Minneapolis-based Frauenshuh Commercial Real Estate will manage the building. Brian Bruggeman and Louis Suarez of Colliers International will lease the property. David Berglund of Colliers International represented the undisclosed seller in the sale transaction.

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IllinoisIndustrialLoansMidwest

Wool Finance Arranges $14M Refinancing of Industrial Buildings in Vernon Hills, Illinois

by Kristin Harlow

VERNON HILLS, ILL. — Wool Finance Partners has arranged a $14 million loan for the refinancing of two industrial buildings in Vernon Hills, a northern suburb of Chicago. The buildings total 350,000 square feet and are leased to a single tenant. A regional bank was the lender. The borrower was not disclosed. Gary Wool of Wool Finance arranged the loan.

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IndustrialMidwestOhio

Colliers International Brokers $4.1M Sale of Warehouse in Cincinnati

by Kristin Harlow

CINCINNATI — Colliers International has brokered the sale of an 81,681-square-foot warehouse in Cincinnati for $4.1 million. The property, located at 5480 Creek Road, features 6,681 square feet of office space. Raymond Storage Concepts Inc. (RSCI) purchased the property. The company sells, rents and services materials handling equipment, including dock doors and other warehouse solutions. RSCI also maintains sales and service facilities in Columbus and Louisville, Ky. John Gartner and Erin Casey of Colliers International represented the seller, Creek Road 5480 LLC, in the sales transaction. Roddy MacEachen, Rod MacEachen and Jared Wagoner of SQFT Commercial represented RSCI.

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IowaMidwestMultifamily

Draper and Kramer Sells Office Building in Des Moines, Iowa for $30.2M

by Kristin Harlow

DES MOINES, IOWA — Draper and Kramer Inc. has sold Capital Square in downtown Des Moines to Real Capital Solutions for $30.2 million. Designed by Skidmore, Owings & Merrill, the 454,619-square-foot office building is located at 400 Locust St. Draper and Kramer developed the eight-story building in 1983. Tenants include The Des Moines Register, RSM McGladrey, Life Care Services, BH Equities and Iowa State University. CBRE represented Draper and Kramer in the sale transaction.

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IllinoisMidwestMultifamily

297-Unit Luxury Apartment Complex Opens in Itasca, Illinois

by Kristin Harlow

ITASCA, ILL. — M&R Development has opened The Residences at Hamilton Lakes in Itasca, 27 miles northwest of Chicago. The 297-unit luxury apartment complex is located adjacent to the Hamilton Lakes Business Park. A joint venture between Itasca-based M&R Development and Hamilton Partners and Chicago-based POB Capital LLC developed the property. The Residences at Hamilton Lakes includes three four-story buildings offering a mix of studio, one-, two- and three-bedroom floor plans. Rental prices range from $1,340 to $3,180. Amenities include an outdoor pool with cabanas, media room, fully equipped gym, business center and demonstration kitchen along with a spa, sauna and steam room. Chicago-based RMK Management manages the property.

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IowaMidwestMultifamilySeniors Housing

Darland Transforms Former School Into Affordable Seniors Housing Property in Council Bluffs, Iowa

by Kristin Harlow

COUNCIL BLUFFS, IOWA — Darland Construction Co. has completed a renovation of and addition to Gunn School, transforming the 90-year-old building into an affordable seniors housing property in Council Bluffs, a suburb of Omaha, Neb. Known as Linden Place, the 42,265-square-foot complex consists of 36 units. Sixteen of the apartment units are located in the renovated school, while the remaining 20 units are part of a new, two-story addition built on what was once the school’s basketball courts and playground. Gunn School was originally built in 1880 and then rebuilt on the same site in 1924. The school was originally slated to be torn down before Seldin Co. showed interest in rehabbing the building. The project was made possible through a series of community and economic development grants. Architecture One provided architectural services.

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IllinoisIndustrialMidwest

Darwin Brokers Sale of 160,000 SF Warehouse in Bellwood, Illinois

by Kristin Harlow

BELLWOOD, ILL. — Darwin Realty has brokered the sale of a 160,000-square-foot warehouse in Bellwood, 13 miles west of Chicago. The sales price was not disclosed. The property is located at 950 S. 25th Ave. U-Haul/AMERCO Real Estate Co. purchased the property for use as a truck rental and self-storage facility. The building features 11,500 square feet of office space, 5,000 square feet of cooler space, clear heights ranging from 12.5 to 19.5 feet, 14 exterior docks and two interior docks. U-Haul chose this site due to its proximity to I-290 and large parking lot on the 8.3-acre site. The new owner will take occupancy of the building in October. Jeffrey Provenza and George Cibula of Darwin represented the seller, 950 S. 25th Ave. LLC. U-Haul was self-represented.

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LoansMidwestMissouriMultifamily

NorthMarq Arranges $4.3M Acquisition Loan for Apartment Property in Kansas City, Missouri

by Kristin Harlow

KANSAS CITY, MO. — NorthMarq Capital has arranged a $4.3 million loan for the acquisition of The Devereaux Apartments in Kansas City. The 60-unit apartment property, built in 1967, is located at 3624 Warwick Blvd. Noah Juran of NorthMarq arranged the three-year loan. A bridge lender provided the loan for the undisclosed borrower.

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