Property Type

Dwight Mortgage Trust Provides $43M Bridge Loan for Avian Apartments in Colorado Springs

by Amy Works July 21, 2025

COLORADO SPRINGS, COLO. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $43 million bridge loan to refinance Avian, a multifamily community in downtown Colorado Springs. Avian features 148 apartments, a parking garage, resort-style pool, gym and work-from-home lounges. Brandon Baksh and Talisse Thompson of Dwight Capital originated the loan for the sponsor, Jackson Dearborn Partners. Dwight closed the loan upon issuance of the initial Temporary Certificate of Occupancy. Proceeds were used to repay the project’s construction loan and fund transaction-related costs.

July 21, 2025

Acquisitions Multifamily Washington Western

CBRE Negotiates $25.5M Sale of Multifamily Property in Spokane Valley, Washington

by Amy Works July 21, 2025

SPOKANE VALLEY, WASH. — CBRE has negotiated the $25.5 million sale of Village on Broadway, an apartment property in Spokane Valley. Josh McDonald, Joe Nydahl and Jordan Louie of CBRE represented the undisclosed seller in the transaction. The name of the buyer was also not released. Located at 12623 E. Broadway Ave., Village on Broadway offers 148 one-, two- and three-bedroom units with in-unit washers/dryers. Community amenities include covered parking, a community garden, dog park, playground and a community barbecue area. The property was built in 1996.

July 21, 2025

Acquisitions Arizona Multifamily Seniors Housing Western

Stellar Senior Living Acquires 152-Unit Community in Marana, Arizona

by Amy Works July 21, 2025

MARANA, ARIZ. — Stellar Senior Living has acquired La Sonora at Dove Mountain, a seniors housing community located in Marana, roughly 20 miles northwest of Tucson. Totaling 152 units, the property features independent living, assisted living and memory care residences. The seller and sales price were not disclosed. Stellar Senior Living, which was founded in 2011, is headquartered in Salt Lake City.

July 21, 2025

Acquisitions California Industrial Lee & Associates Western

Lee & Associates Arranges $3.2M Sale of Warehouse in Santa Fe Springs, California

by Amy Works July 21, 2025

SANTA FE SPRINGS, CALIF. — Lee & Associates has arranged the sale of a warehouse and industrial building at 8528 Dice Road in Santa Fe Springs. J.O.R. Real Estate LLC sold the asset to Van Stone Conveyor for $3.2 million. The 12,591-square-foot property features 1,500 square feet of office space, a 2/1,000 parking ratio, 16-foot clearance height and 800 amps of power, as well as a secured yard. Additionally, the asset was sold with a tenant in place under a lease through Oct. 31, 2025. Phillip DeRousse of Lee & Associates – Orange handled the transaction.

July 21, 2025

Acquisitions Colorado Office Western

Unique Properties/TCN Worldwide Brokers Sale of 16,122 SF Office Building in Denver

by Amy Works July 21, 2025

DENVER — Unique Properties Inc./TCN Worldwide has arranged the sale of an office and warehouse property at 4825 N. Oakland St. in Denver. The asset traded for $2.1 million. Greg Knott and Earl Duffy of Unique Properties Inc./TCN Worldwide represented the seller and buyer in the deal. The names of the seller and buyer were not released.

July 21, 2025

Development Midwest Multifamily Wisconsin

Inland Completes 261-Unit Evoni Apartments in Milwaukee’s Historic Third Ward

by Kristin Harlow July 21, 2025

MILWAUKEE — Inland Real Estate Investment Corp. has completed Evoni Apartments in Milwaukee’s Historic Third Ward district. Inland completed the 261-unit luxury apartment project in a joint venture with Kaeding Development Group LLC. Located adjacent to the Henry Maier Festival Park and Lake Michigan, the five-story property features 60 studios, 122 one-bedroom units, 66 two-bedroom units and 13 three-bedroom residences. Amenities include a pool, rooftop lounge, sky deck, outdoor fire pits, a community recreation room, fitness center, yoga room, indoor sauna, dog park, pet washing station and package room. The project marks the fourth investment and second ground-up multifamily development of which Inland Investments has partnered with Kaeding.

July 21, 2025

Build-to-Rent Development Kansas Midwest Single-Family Rental

PeakMade, Blue Vista Break Ground on 214-Unit Build-to-Rent Community in Olathe, Kansas

by Kristin Harlow July 21, 2025

OLATHE, KAN. — PeakMade Real Estate and Blue Vista Capital Management have broken ground on Olathe Commons, a 214-unit build-to-rent community in Olathe. Leasing is anticipated to begin in August 2026 prior to the first unit deliveries, with final completion slated for September 2027. Old National Bank provided construction financing, and Open House Group is the joint venture limited partner for the project. Olathe Commons will feature 60 single-family cottages and 154 townhome units. Floor plans will range from two to four bedrooms, and most units will have attached garages. Amenities will include a clubhouse, fitness center, pool, dog park and green space.

July 21, 2025

Development Industrial Midwest Wisconsin

Peak Construction to Build 237,788 SF Spec Industrial Building in Bristol, Wisconsin

by Kristin Harlow July 21, 2025

BRISTOL, WIS. — Peak Construction Corp. will construct Building 5A within Bristol Business Park in the Milwaukee suburb of Bristol. Janko Group is the developer. The 237,788-square-foot speculative industrial facility will feature a clear height of 32 feet, 20 docks, two drive-in doors and 303 parking spaces. Completion is slated for the third quarter of 2026. The project team includes Harris Architects Inc. and Manhard Engineering as civil engineer. Peak has served as general contractor for the 225-acre industrial business park’s infrastructure and multiple tenant improvements as well as Building 1 (1 million square feet), Building 2 (314,505 square feet), Building 3 (396,508 square feet), Building 4 (157,043 square feet) and Building 8 (323,970 square feet).

July 21, 2025

Healthcare Illinois Leasing Activity Midwest

NAI Hiffman Negotiates 87,461 SF Medical Office Lease Renewal in New Lenox, Illinois

by Kristin Harlow July 21, 2025

NEW LENOX, ILL. — NAI Hiffman has negotiated an 87,461-square-foot medical office lease renewal for Silver Cross Hospital at 1890 Silver Cross Blvd. in New Lenox, a southwest suburb of Chicago. The 174,855-square-foot, six-story building is known as Pavilion A. Silver Cross healthcare providers occupy the first two levels as well as eight suites on the upper four levels. Other tenants in the building include the Shirley Ryan AbilityLab at Silver Cross and independent healthcare providers. Perry Higa of NAI Hiffman represented Silver Cross in the lease renewal, and Steve Brooks and Katie McReynolds of NexCore Group represented the owner, Prudential Real Estate Investors. The lease was completed far in advance of its expiration in fourth-quarter 2026.

July 21, 2025

Leasing Activity Midwest Minnesota Office

Barr Engineering to Relocate Headquarters to 85,000 SF Office in Richfield, Minnesota

by Kristin Harlow July 21, 2025

RICHFIELD, MINN. — Barr Engineering Co. has unveiled plans to relocate its headquarters office to One Meridian Crossings in Richfield, a suburb of Minneapolis, in late 2026. The employee-owned engineering and environmental consulting firm serves clients in the fuels, manufacturing, mining, power and public sectors. Incorporated in Minnesota in 1966, Barr maintains offices across North America and client projects worldwide. Approximately half of the company’s 1,100 employees are based in the Twin Cities. Jim Damiani and Teresa Borgen of Newmark represented Barr in the lease negotiations. Barr’s new office will total 85,000 square feet, and the company is relocating from 4300 MarketPointe Drive in Bloomington, Minn.

July 21, 2025

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