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Home2 Suites to Open This Week in Holland Township
Holland Sentinel January 9, 2019After nearly a year of planning and construction, Holland’s new Home2 Suites hotel will open Thursday. Developed by Inland National Development Company, LLC, the hotel is located at 3140 West Shore Drive and features 109 suites with lifestyle-focused amenities and separate living and bedroom space. Each room has a kitchen with a refrigerator, dishwasher, microwave oven and coffee maker.
HFF Announces Sale of Luxury Mixed-use Property in Chicago’s North Shore
REjournals January 9, 2019Holliday Fenoglio Fowler, L.P. (HFF) announced the sale of The Commons at Town Center, a boutique luxury residential and retail property in the affluent North Shore community of Vernon Hills, Illinois. The HFF team marketed the property on behalf of the seller, Inland Residential Properties Trust, Inc. (a member company of The Inland Real Estate Group of Companies, Inc.), and procured the buyer, FPA Multifamily, LLC.
Redevelopment of Workforce Housing
National Real Estate Investor January 2, 2019There has been a heavy focus on the multifamily housing market and various analyses have attempted to determine where the product is in the business cycle. However, one segment of the multifamily market that is commonly overlooked is workforce housing. Art Rendak, president of Inland Mortgage Capital, LLC, shares more on workforce housing in the 2019 National Real Estate Investor Market Outlook (page 32).
Inland Residential Sells Illinois Multifamily Property for $24.6 Million
The DI Wire December 28, 2018Inland Residential Properties Trust, Inc., a publicly registered non-traded real estate investment trust, has completed the sale of “The Commons at Town Center,” an 85-unit multifamily community located in Vernon Hills, Illinois, for approximately $24.6 million.
Inland Residential Shareholders Approve Plan of Liquidation
The DI Wire December 26, 2018Shareholders of Inland Residential Properties Trust, Inc., a publicly registered non-traded real estate investment trust, have approved the company’s plan of liquidation, which includes selling the company’s assets, distributing the net cash to shareholders, and dissolving the company. The REIT’s board approved the plan in September.
InPoint Originates $24.6 Million First Mortgage Loan for Orlando Multifamily Property
The DI Wire December 14, 2018InPoint Commercial Real Estate Income, Inc., a commercial mortgage real estate investment trust sponsored by Inland Real Estate Investment Corporation and sub-advised by an affiliate of Sound Point Capital Management LP, has originated a first mortgage loan for a 360-unit, garden-style multifamily property located in Orlando, Florida. The loan is comprised of a $24.56 million initial funding and a potential future funding of $4.75 million, for a total potential loan amount of $29.31 million.
This Week's Chicago Deal Sheet
Bisnow December 11, 2018Inland Real Estate Commercial Brokerage, Inc. facilitated the sale of Deer Creek Condominiums, a 58-unit residential property in Gurnee, Illinois, a northern suburb of Chicago. Inland Senior Vice Presidents Paul Montes and Eric Spiess handled the transaction on behalf of the sellers, Deer Creek Venture Corp. and Condo Opportunities Corp., wholly owned subsidiaries of Oak Brook, Illinois-based Inland National Development Corporation.