Developer in Illinois Seeks to Build Townhomes and Retail Space
Spencer Atkins, a real estate developer based in Champaign, Ill., has had his proposal to construct a new residential development approved by the Planning and Zoning Board of Monticello, Ill. If given the final go-ahead from city council, the project will yield seven townhomes ranging from one to three stories as well as an unspecified amount of retail space. The project’s estimated construction costs and completion timeline are both currently unknown.
Hospice Center in Iowa Breaks Ground on New Administrative Building
Ground has been broken on a new administrative building for Cedar Valley Hospice in Waterloo, Iowa. Once completed in mid-2021, the 15,636 square-foot building will be home to 70 employees and will allow the center to consolidate its non-patient-facing staff under one roof. The building’s estimated construction costs are currently unknown.
JLL and HGI Supply $49.7 Million in Acquisition Financing for Apartment Complex
JLL and Harbor Group International, a Virginia-based real estate investment and management firm, have provided a combined $49.7 million to a South Carolina-based real estate investment firm to acquire an apartment complex near Los Angeles. The complex contains a total of 147 units and features a swimming pool, a fitness center, a clubhouse, a business center, and a pet grooming station.
Ziegler Provides $199.4 Million in Financing for Seniors Housing Owner-Operator
Ziegler, a privately held investment bank based in Chicago, has arranged $199.4 million in bond financing for a seniors housing owner-operator in Fort Washington, Pa. The firm represents the country’s third-largest nonprofit seniors housing operator, owning nearly 10,000 residential units across seven states. The portfolio involved in this specific financing includes 20 communities in seven states.
57-Story Residential Skyscraper in Brooklyn Nears Completion
A skyscraper in downtown Brooklyn is nearing completion. Once completed, the 57-story building will contain a total of 481 residential units and an exceptional amount of landscaping. The project is slated for completion by the end of 2020, though its estimated construction costs are currently unknown.