Friday, January 23, 2026
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Midwest

Affordable HousingDevelopmentMichiganMidwestMultifamily

Annex Group to Build $82M Affordable Housing Community in Ann Arbor

by Kristin Harlow

ANN ARBOR, MICH. — The Annex Group has unveiled plans to build Union at A2, an $82 million affordable housing community in Ann Arbor. The 250-unit development will include one-, two- and three-bedroom floor plans for residents who earn at or below 70 percent of the area median income. Amenities will include a community center, bike storage, fitness center, outdoor picnic area and playground. Partners on the project include BKV Group, Midwestern Consulting and the City of Ann Arbor. Michigan State Housing Development Authority provided $35 million in permanent mortgage dollars and $15 million of soft debt, Grow America provided $22.5 million in Low-Income Housing Tax Credits equity and Ann Arbor Housing Commission provided $3 million of soft debt. An official groundbreaking will be announced in the coming days. Completion is slated for fall 2026. The project marks Annex Group’s third community in Michigan.

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DevelopmentIndustrialMidwestWisconsin

Crow Holdings Expands Scope of $75M Air Cargo Project at Milwaukee Airport

by Kristin Harlow

MILWAUKEE — Crow Holdings has expanded the scope of its South Cargo Logistics Hub project at the Milwaukee Mitchell International Airport in Wisconsin. The development is a public-private partnership whereby most of the $75 million in capital cost and resources necessary to complete the project will come from private sources. The developer signed a ground lease with the county. At the end of the term, the county will have the option for all improvements to become its property. Crow has expanded the size of the new facility by nearly 50,000 square feet for a total of 337,000 square feet, which is consistent with the 2022 Airport Master Plan prepared by Milwaukee County. Crow will also deliver a new garage for the Milwaukee County Highway department. The project scope has also grown to include large-scale repairs to the roughly 16 acres of public taxiway area directly adjacent to the project. This added work will enable modern wide-body cargo traffic to operate in this part of the airport on a consistent basis for the first time, according to a release. The increased size will facilitate the simultaneous parking of up to five Boeing 777-8F, or equivalent, plane parking positions along with a …

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DevelopmentIndianaMidwestMultifamily

MBG Underway on Construction of 250-Unit Luxury Apartment Community in Westfield, Indiana

by Kristin Harlow

WESTFIELD, IND. — MBG is underway on the construction of The James at Chatham Hills in Westfield, about 30 miles north of Indianapolis. Mia Rose Holdings is developing the 250-unit luxury apartment project. Completion is slated for May 2025. The project marks the first multifamily development for MBG’s new Indianapolis office. Located on a 21-acre site within the Chatham Hills planned residential and recreational development, The James at Chatham Hills will feature eight two- and three-story buildings with 124 one bedrooms, 114 two bedrooms and 12 three-bedroom units. Amenities will include access to a nature trail and lake recreation, a pool, pickleball courts, golf simulator, fitness facility and conference spaces. The project team includes architect Rosemann & Associates, civil engineer V3 Cos. and mechanical, electrical and plumbing engineer Engenuity.

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AcquisitionsMichiganMidwestOffice

NAI Farbman Brokers Sale of 114,397 SF Office Building in Southfield, Michigan

by Kristin Harlow

SOUTHFIELD, MICH. — NAI Farbman, the brokerage arm of Farbman Group, has brokered the sale of a 114,397-square-foot office building in Southfield. The H.N. and Frances C. Berger Foundation, a California-based nonprofit that supports established organizations promoting healthcare, social services and education, purchased the property in 2012 as an investment. Given the current state of the office industry, the foundation opted to gift the building to another nonprofit, Volunteers of America, a Virginia-based organization founded in 1896 that provides affordable housing and other assistance to low-income residents. David Haboian of REDICO and Edward Wujek of CBRE represented H.N. and Frances C. Berger Foundation, while Ron Goldstone of NAI Farbman represented Volunteers of America. Following the gifting of the asset, Volunteers of America executed an analysis on the building to determine if it could be converted into a multi-story thrift store, a common practice for the group, which operates dozens of thrift stores nationwide. But the conversion proved too difficult to execute. The property then traded to the Tamaroff Jeffrey Automotive Group, a local automotive dealer of new and used cars. As a result, Volunteers of America raised money for its charity by trading the asset. The property is situated adjacent …

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DevelopmentHealthcareIllinoisMidwest

Joint Venture to Convert 43,000 SF Former Fitness Facility in Suburban Chicago into Cardiovascular Center

by Kristin Harlow

NAPERVILLE, ILL. — A joint venture between Capital Healthcare Properties and HSG Medical has entered the permitting phase of a project to create a specialized cardiovascular center in the Chicago suburb of Naperville. The outpatient ambulatory surgery treatment center (ASTC) will be built for a Chicago-area healthcare system. The ASTC will transform a former 43,000-square-foot fitness facility at 1836 Freedom Drive. The joint venture has been coordinating with consultants, the health system and the city for over a year. The original design and use of the building as a fitness center, including 25-foot ceiling heights and minimal columns, promotes an efficient and flexible floor plan to maximize the space for a complex healthcare build-out, according to the development team. The building, constructed in 2008, sits on a five-acre lot and offers more than 200 parking spaces. Construction is set to commence this quarter, with the first patients expected to be seen in the new facility in 2026. The project team includes architects Antunovich Associates and HDR, civil engineer V3 Cos., mechanical, electrical and plumbing engineer IMEG, landscape architect Hitchcock Design Group and general contractor Boldt. Brett Berlin of Quantum Real Estate Advisors Inc. brokered the $7.5 million sale of the …

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AcquisitionsIllinoisMidwestMultifamily

JLL Arranges Sale of 29-Story Luxury Apartment Tower in Chicago’s Fulton Market

by Kristin Harlow

CHICAGO — JLL Capital Markets has arranged the sale and acquisition financing of The Parker, a 29-story luxury apartment tower in Chicago’s Fulton Market district. The sales price was $93.3 million, according to Crain’s Chicago Business. Developed by Atlantic Residential, Shapack Partners and Focus Development in 2016, the 227-unit property features panoramic views of downtown Chicago. Units range from studios to three-bedroom layouts. Amenities include a fitness center, yoga studio, rooftop pool, clubroom, work-from-home space, outdoor dog run, indoor dog wash, private parking garage, package concierge system, dry-cleaning pickup lockers and bicycle storage. The property is located at 730 W. Couch Place, steps from the Randolph Street Restaurant Row. Kevin Girard, Mark Stern, Zach Kaufman, Jennifer Hull and Colleen Watson of JLL represented the seller, institutional investors advised by J.P. Morgan Asset Management and Atlantic Residential. Danny Kaufman, Matthew Schoenfeldt, Medina Spiodic, Mary Dooley, Rebecca Brielmaier and Yougsoo Yang of JLL arranged a fixed-rate, five-year acquisition loan through Northwestern Mutual Life on behalf of the buyer, JDL Development.

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AcquisitionsMidwestMissouri

Gantry Expands Midwest Footprint with Acquisition of Q10 | Triad Capital Advisors

by Kristin Harlow

KANSAS CITY AND ST. LOUIS — Gantry Inc., a full-service commercial mortgage banking firm based in San Francisco, has acquired Q10 | Triad Capital Advisors Inc., a member of Q10 Capital LLC. The transaction expands Gantry’s servicing portfolio by over $1.5 billion, growing its total servicing portfolio to $20 billion. Mark Reichter and Joe Monteleone, principals of Triad Capital Advisors, will hold an equity stake in the newly expanded Gantry. The transaction ensures continuity for Triad employees. Established in 1990, Triad maintains offices in both Kansas City and St. Louis. Going forward, Triad will operate under the Gantry name. Michael Heagerty, George Mitsanas, Robert Slatt and Jeff Wilcox led the Gantry acquisition team.

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AcquisitionsIllinoisMidwestRetail

Nassimi Realty Purchases 100,000 SF Retail Center in Chicago’s South Loop for $9.2M

by Kristin Harlow

CHICAGO — Nassimi Realty, a New York-based real estate development company, has purchased Joffco Square, a 100,000-square-foot retail center in Chicago’s South Loop. The purchase price was $9.2 million. Located at 555 W. Roosevelt Road, Joffco Square is anchored by Best Buy and shadow anchored by Home Depot. The property features a two-story covered parking garage. The seller, Pine Tree, had purchased the asset for $27 million. Nassimi is working with national retailers to address vacancies at the center.

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DevelopmentMidwestMultifamilyOhio

Vista Residential Partners Breaks Ground on 308-Unit Multifamily Property in Newark, Ohio

by Kristin Harlow

NEWARK, OHIO — Vista Residential Partners has broken ground on Trailhead Vista, a 308-unit apartment community in Newark, about 40 miles east of Columbus. The 15.6-acre project is situated at the northeast corner of West Main Street and Thornwood Drive along the Thornwood Corridor Employment Hub (TECH), which is comprised of five industrial parks totaling over 1,600 acres. Designed by Columbus-based ArchAll, the garden-style community will offer a mix of one- and two-bedroom units averaging 862 square feet. Amenities will include a clubhouse, pool, fitness center, central green area and pet park. Trailhead Vista will also offer access to the TJ Evans Trail, a 14.2-acre trail connecting Newark to Johnstown. Parse Capital, Icarus Capital and Old National Bank provided financing for the development. Krevolin & Horst LLC represented Vista Residential Partners.

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Leasing ActivityMichiganMidwestRetail

Salvation Army Signs 13,065 SF Retail Lease in Washington Township, Michigan

by Kristin Harlow

WASHINGTON TOWNSHIP, MICH. — The Salvation Army has signed a 13,065-square-foot retail lease on Van Dyke Avenue in Washington Township, a northern suburb of Detroit. The charitable organization will take occupancy in June and is relocating from across the street. Gary Grochowski and Bryan Barnas of Colliers represented the undisclosed landlord, while John Lominack and Michael Bennett of Colliers represented the tenant. The Salvation Army operates nearly 8,000 locations across the U.S.

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