Property Type

Eagle Partners Buys 350-Unit Multifamily Property in Hacienda Heights, California for $107M

by Amy Works November 24, 2025

HACIENDA HEIGHTS, CALIF. — Eagle Partners has acquired Hills at Hacienda Heights, an apartment property located in Hacienda Heights, for $107 million, or $305,714 per unit. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the undisclosed seller and procured the buyer in the deal. Built in 1970 on more than 10 acres and renovated in 2015, the gated Hills at Hacienda Heights features 350 apartments, three swimming pools, a spa, fitness center, coworking lounge and covered parking. Apartments feature 8-foot ceilings, washers/dryers, stainless steel appliances, and quartz or granite countertops. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Tyler Johnson of IPA Capital Markets arranged $71 million in acquisition financing for the buyer.

November 24, 2025

California Development Loans Multifamily Western

Northmarq Secures $66.1M Construction Loan for Palm & Hollister Apartments in San Diego

by Amy Works November 24, 2025

SAN DIEGO — Northmarq has arranged a $66.1 million construction loan on behalf of Ambient Communities for the development of Palm & Hollister Apartments in San Diego. Located at 555 Hollister St., the proposed community will feature 198 apartments. Aaron Beck, Bryce Quezada, Conor Freeman and Wyatt Campbell of Northmarq arranged the financing through Genesis Capital. The loan includes a three-year initial term and the option to roll into a mini perm upon completion of construction.

November 24, 2025

Acquisitions Oregon Restaurant Retail Western

SRS Real Estate Brokers $6.6M Sale of Chick-fil-A Ground Lease in Lake Oswego, Oregon

by Amy Works November 24, 2025

LAKE OSWEGO, ORE. — SRS Real Estate Partners has arranged the $6.6 million ground lease sale of a restaurant property located at 14801 Kruse Oaks Drive in Lake Oswego. Chick-fil-A occupies the 8,400-square-foot asset, which was renovated in 2025, under a brand new, 15-year corporate-guaranteed lease. Calvin Short and Patrick Luther of SRS Capital Markets represented the seller, a San Francisco-based family office, while Kevin Held of SRS Capital Markets represented the buyer, an Idaho-based private investor, in the 1031 exchange deal.

November 24, 2025

Acquisitions Colorado Industrial Western

Malman Real Estate Negotiates $5.5M Sale of Industrial Property in Grand Junction, Colorado

by Amy Works November 24, 2025

GRAND JUNCTION, COLO. — Malman Real Estate has arranged the acquisition of 1048 Independent Avenue, a 65,568-square-foot flex industrial property in Grand Junction. YuanYuan Li, Fengmei Zou and Independent Estate LLC sold the asset to 1048 Independent LLC for $5.5 million. Michael Kraus and Jake Malman of Malman Real Estate represented the buyer in the off-market transaction.

November 24, 2025

Illinois Leasing Activity Midwest Office

USG Renews 165,000 SF Office Headquarters Lease in Downtown Chicago

by Kristin Harlow November 24, 2025

CHICAGO — USG Corp. has renewed its 165,000-square-foot office headquarters lease at 550 West Adams in downtown Chicago. The tenant manufactures high-quality building materials and has more than 50 manufacturing facilities across North America. Formed in Chicago in 1902, USG is the largest producer of wallboard in the U.S. and the largest manufacturer of gypsum products overall in North America. Chris Wood and David Stefancic of Cushman & Wakefield represented USG, while Mark Bâby and Katie Hull of Stream Realty Partners represented ownership, Manova Partners. Cushman & Wakefield negotiated USG’s original global headquarters lease in 2004 that coincided with the development of 550 West Adams. Cushman & Wakefield will also provide project management services to USG as part of a renovation of the space. Built in 2006 and located in the heart of the West Loop, 550 West Adams rises 18 stories and is LEED Gold certified. Last year, Manova completed a major renovation of the second-floor amenity space, adding a 50-seat conference center, upgrading the tenant lounge and installing a golf simulator and fitness center with showers and locker facilities. Additional amenities include a tenant concierge, a Chase Bank branch and ATM, lobby-level café, bike storage and heated parking …

November 24, 2025

Affordable Housing Development Loans Midwest Multifamily Ohio

Merchants Capital Secures $152.3M in Financing for Affordable Housing Project Near Columbus, Ohio

by Kristin Harlow November 24, 2025

WHITEHALL, OHIO — Merchants Capital has secured $152.3 million in total financing for The Aries Lofts, a 315-unit affordable housing community in Whitehall developed by LDG Development LLC. Merchants Capital secured a $42.7 million Freddie Mac Forward TEL permanent loan, a $60 million tax-exempt construction loan and an $8 million equity bridge loan provided by Merchants Bank. As the syndicator, Merchants Capital provided $41.6 million in 4 percent low-income housing tax credit equity. LDG Development received Brownfield Remediation Funds from the Ohio Department of Development for environmental remediation of the project site, formerly the Wirthman Brothers Junkyard. The City of Whitehall awarded a 15-year payment in lieu of taxes agreement, granting a Community Reinvestment Area tax exemption. The Franklin County Economic Development & Planning Department also awarded a grant. Additional project financing included a bridge loan from The Affordable Housing Trust for Columbus and Franklin County as well as a partnership through a capital lease with the Columbus-Franklin County Finance Authority. Upon completion, The Aries Lofts will set aside 66 units for families earning 50 percent of the area median income (AMI), 183 units at 60 percent AMI and 66 units at 70 percent AMI. The project will feature one-, …

November 24, 2025

Acquisitions Midwest Missouri Retail

Block & Co. Buys 510,000 SF Summit Fair Lifestyle Center in Suburban Kansas City

by Kristin Harlow November 24, 2025

LEE’S SUMMIT, MO. — Block & Co. Inc. Realtors has purchased Summit Fair, a lifestyle center in the Kansas City suburb of Lee’s Summit. Totaling roughly 510,000 square feet, the property is approximately 90 percent leased. Tenants include Dick’s Sporting Goods, H&M, Lululemon, Made in KC Marketplace, Craft Putt, Orangetheory, Pure Barre, Chick-fil-A, DSW, McAlister’s Deli, JC Penney and Missouri Furniture Mart. Sephora and LoveSac are slated to open soon at the center. Block & Co. intends to introduce community-focused events and expand the tenant mix at Summit Fair. The company now leases and manages 10 multi-tenant centers in Lee’s Summit. Zachary Albrecht and David Block of Block & Co. represented the buyers, a group of local investors including Block and Doug Compton of Lawrence, Kan. The seller was Arizona-based Red Development. With this sale, Red has exited the Kansas City market.

November 24, 2025

Acquisitions Illinois Midwest Multifamily

Draper and Kramer Acquires 263-Unit Luxury Apartment Community in Oak Park, Illinois

by Kristin Harlow November 24, 2025

OAK PARK, ILL. — Draper and Kramer Inc. has acquired Eleven33 in Oak Park, about 10 miles west of downtown Chicago. The luxury apartment community rises 12 stories with 263 units. Draper and Kramer will also assume management of the property, which is located at 1133 South Blvd. across from the CTA’s Harlem/Lake Green Line station as well as Metra’s Oak Park station on the Union Pacific West Line. Completed in 2019, Eleven33 is currently 95 percent leased and has averaged 94.4 percent occupancy since January 2024. Floor plans come in studio, one-, two- and three-bedroom layouts ranging from 512 to 1,500 square feet. Monthly rents start at $1,945. Amenities include a fitness center, parlor area with billiards table, two conference rooms, a clubroom, bike storage, sun deck, pet washing stations, indoor dog run and parking garage. Newmark represented the undisclosed seller. Draper and Kramer did not have broker representation.

November 24, 2025

Development Kansas Midwest Retail

Kansas Museum of History Reopens Following $6M Renovation

by Kristin Harlow November 24, 2025

TOPEKA, KAN. — After being closed for three years, the Kansas Museum of History has reopened in Topeka. The $6 million renovation, which marked the first major update of exhibits since the museum’s debut in the 1980s, includes a fully reimagined, 20,000-square-foot gallery. Kansas City-based Dimensional Innovations (DI) served as designer, fabricator and installer for the project. DI worked closely with the Kansas Historical Society, which operates the facility.

November 24, 2025

Development Industrial Southeast Virginia

LEGO Group Breaks Ground on $360M Regional Distribution Center in Virginia

by Abby Cox November 24, 2025

PRINCE GEORGE COUNTY, VA. — The LEGO Group has broken ground on its new 2 million-square-foot regional distribution center in Prince George County near Richmond. The $360 million project will complement the LEGO Manufacturing Virginia facility that is underway in nearby Chesterfield County. Both facilities are scheduled to open in 2027 and will allow the company to reduce lead times, respond faster to shifts in demand, shorten the supply chain and slash its environmental impact. The new facility, which marks LEGO’s sixth distribution center worldwide and second in the United States, will feature advanced automation and will use 100 percent renewable energy to power the site to meet LEED Gold certification. The company also aims to achieve WELL Certification, which certifies buildings for improving the health and well-being of its occupants. The LEGO Group previously announced a build-to-suit lease for the new distribution center with Crosspointe Commerce Center, a joint venture between Hillwood Investment Properties and The Silverman Group. A third-party logistics provider will operate the facility, which is expected to create more than 300 jobs once opened, according to company representatives.

November 24, 2025

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