KANSAS CITY, MO. — PPR Capital Management (PPR) has acquired Infinity at Plaza West, a 224-unit multifamily property in Kansas City, for $33.6 million. The garden-style community is situated in close proximity to Country Club Plaza. The acquisition marks PPR’s second investment in metro Kansas City. The investment structure includes a total equity investment of $11.4 million, with PPR contributing $10.2 million as the primary equity partner. PPR worked alongside Aspen Funds as the general partner and Petra as co-general partner and onsite property manager. The financing includes a 3.9 percent loan assumption.
ROSEMONT, ILL. — Peak Construction Corp. is underway on EXP, a 25,170-square-foot entertainment development in the Chicago suburb of Rosemont. The venue will feature a rotating program of virtual, augmented and mixed reality immersive entertainment experiences with producer partner PHI Studio. Located in the city’s Pearl District, the project is slated for completion in the third quarter. The project team includes Gravity Architecture & Design LLC, Christopher B. Burke Engineering and Mackie Consultants.
ST. LOUIS — ARCO Construction and architect HDA have completed The Rail, a 268-unit apartment complex in St. Louis. The four-story, 278,659-square-foot project features a three-level parking garage totaling 94,598 square feet. Outdoor amenities include a courtyard with a pool and grilling area. Inside, residents can enjoy a gathering kitchen, fitness center, game lounge, theater, coworking spaces and conference rooms. Monthly rents start at $1,410, according to the property’s website.
WYOMING, MICH. — Walker & Dunlop has arranged $25.9 million in permanent financing for Rivertown Ridge, a 152-unit seniors housing community in Wyoming near Grand Rapids. Built in 2019, the Class A property is part of a larger 120-acre master-planned community. Rivertown Ridge features units for independent living, assisted living and memory care. Amenities include a library, bar and entertainment space, theater, fitness center, coffee bar, lounge, activity areas and underground parking. Mary Stuart Hurst and Russell Dey of Walker & Dunlop partnered with Inner Circle Holdings to arrange the 10-year, fixed-rate Fannie Mae loan, which features three years of interest-only payments. The borrower was Redstone Group Management Inc.
INDIANAPOLIS — Colliers has brokered the sale of a 263,230-square-foot industrial facility in Indianapolis for an undisclosed price. The fully leased property sits on 13.5 acres within the Stout Field Industrial Park and provides immediate access to I-70. The building features 24 truck docks, clear heights ranging from 21 to 35 feet, heavy industrial zoning, four acres of excess ground for expansion or outside storage, 30,000 square feet of freezer space, rooftop solar panels and rail service with nine loading docks. Alex Cantu, Alex Davenport, Tyler Wilson and Mike Lubbers of Colliers represented the seller, The O’Donnell Group Inc. Cleveland-based The Realife Management Group was the buyer.
CHICAGO — Executive Construction Inc. and architect Lamar Johnson Collaborative (LJC) have completed an office headquarters build-out for ofi (Olam Food Ingredients) in Chicago. The 80,000-square-foot project spans the entire 10th floor of 24 E. Washington St., a recent adaptive reuse redevelopment of the upper levels of the former Marshall Field and Co. Building into creative office space. The office features 13 dedicated labs and specialized kitchens. Flexible multipurpose meeting and dining spaces are flanked by a pair of demonstration kitchens. A sensory work room and separate sensory experience room allow tastings. The new headquarters brings ofi teams from previously fragmented locations into a unified space. The team is targeting LEED Silver and WELL Gold certifications.
CANTON, MICH. — Coffee Dreams has signed a 2,280-square-foot retail lease at Canton Corners shopping center in Canton, a western suburb of Detroit. The property, located on Lilley Road, now has one space remaining for lease. Michael Murphy and Jack Melton of Gerdom Realty & Investment represented the undisclosed landlord.
PLAINFIELD, IND. — Lauth Communities has acquired Apex at Perry Crossing Apartments in the Indianapolis suburb of Plainfield for an undisclosed price. Built in 2023, the garden-style development features a resort-style pool, resident clubhouse, fitness center, coworking area, pickleball court, fenced pet park, game lounge and maker’s room. There are 15 residential buildings on the 26.2-acre property. Floor plans range from 721 to 1,381 square feet. There are also townhome-style floor plans with hallway garage access. Hannah Ott and Cam Benz of CBRE represented the undisclosed seller. Krieg DeVault assisted Lauth with its purchase.
CHICAGO — Skender has completed construction of Fifth City Commons, a 43-unit affordable housing complex in Chicago’s East Garfield Park neighborhood. The units are reserved for residents with incomes ranging between 30 and 80 percent of the area median income. Additionally, all units were built to Passive House standards of sustainable energy use. The project site was vacant land for decades. As a part of the global C40 Reinventing Competition for Cities, which encourages municipalities around the world to use vacant land for sustainable, net-zero redevelopment, the City of Chicago selected the site for redevelopment in 2019. Sitting at the gateway to a part of Garfield Park called Fifth City, the 1.5-acre development was named after this geography to honor the community development organization of the same name that was active in the neighborhood throughout the 1960s. Construction on the property began in July 2023. The new three-story facility includes community rooms, a resident terrace, fitness room, laundry facilities and onsite management offices. Skender and joint venture partner Ashlaur Construction collaborated with Nia Architects and Perkins&Will, and engineering firms dbHMS, Rubinos & Mesia Engineers, Omni Ecosystems and TERRA Engineering. Tandem Ventures managed regulatory compliance and maximized community engagement to create …
DELAVAN, WIS. — Marcus & Millichap has brokered the $9.7 million sale of Delavan Crossings, a 41,898-square-foot retail strip center in Delavan, about 45 miles southwest of Milwaukee. The 25-suite property, built in 2003, is comprised of three buildings. Some of the tenants include Starbucks, Domino’s, Jersey Mike’s, AT&T, Verizon and Great Clips. Jeff Rowlett of Marcus & Millichap represented the seller, New York-based Ten Patels Realty. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap procured the buyer, a private investor. The trio also secured financing from a credit union lender.