Inland Completes Equity Raise for St. Paul Opportunity Zone MF Project
Inland Real Estate Investment Corporation announced the completion of the approximately $28 million equity raise for Office Conversion Opportunity Zone, LLC, a private real estate investment vehicle structured to qualify as a Qualified Opportunity Fund and sponsored by an affiliate of Inland Investments. The offering has been fully subscribed and is now closed.
The fund maintains an approximately 89 percent ownership interest in a 16-story building located at 386 Wabasha Street North in downtown St. Paul, Minnesota. The property is being redeveloped from an underutilized office building into a multifamily residential community featuring 178 apartment units and approximately 2,338 square feet of street-level retail space.
The redevelopment is being executed in partnership with Kaeding Development Group LLC as development partner, R.E.C., Inc. d/b/a Ron Clark Construction & Design as general contractor, and Bader Management, Inc. as property manager.
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Lewis Group Opens Second NorCal Rental-Home Community in West Sacramento
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CBRE Arranges Sale of Future Mixed-Use Development in Wisconsin
CBRE announced the sale of a 4.66-acre parcel at the northwest corner of County Highway MM and U.S. Highway 14 in Fitchburg, Wisconsin. Louisville, Kentucky-based Trilogy Real Estate Fitchburg LLC purchased the property from Fairchild Development LLC for $2.23 million, marking the company’s third location in the Madison market and expanding its footprint beyond its...
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Northmarq Arranges $96M Refi on SoCal Apartment Portfolio
Northmarq has arranged $95.8 million in refinancing for a six-property, 1,461-unit multifamily portfolio owned and operated by E&S Ring across Los Angeles and San Bernardino Counties. The financing was arranged through Voya Investment Management by Northmarq’s San Francisco Debt + Equity team, led by managing director Nathan Prouty, SVP Andrew Slaton and senior investment anaylst...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout