Midwest

URBANA, ILL. — Rosemont, Ill.-based McShane Construction Co. will build Hamilton on the Park, a 36-unit apartment complex in Urbana, 90 miles east of Springfield, the state capital. The company is building the affordable housing development on behalf of The Benoit Group, an Atlanta-based developer. The multifamily property, which will be located on two acres of land at 1201 Brookstone Ct., will include single- and two-story units. Each apartment will also be equipped with energy-efficient windows and Energy Star appliances. Construction is scheduled for completion this fall.

EDEN PRAIRIE, MINN. — Newport Beach, Calif.-based KBS Legacy Partners Apartment REIT has acquired Watertower Apartments, a 228-unit, mixed-use community in Eden Prairie, 16 miles southwest of downtown Minneapolis. The property offers 228,775 square feet of mixed-use space in two adjacent structures: a three-story, 28-unit residential building with 10,065 square of ground-level retail space; and a four-story, 200-unit apartment building above a two-level underground parking garage. Watertower Apartments was 94 percent occupied at the time of the sale.

TOPEKA, KAN. — A Florida-based investor has purchased Raintree Apartments, a 184-unit multifamily building located in Topeka for $5.15 million. The apartment complex, located at 3708 SW. 29th St., was built in 1974 and is 95 percent occupied. Alex Blagojevich and David Gaines of Marcus & Millichap Real Estate Investment Services represented the seller, a California-based limited liability company and the buyer in this deal.