Finance Midwest
Multifamily continues to fuel the commercial finance business.

Berkadia's Callaghan: Workforce apartment units still scarce

Like all commercial financing professionals today, Colin Callaghan, senior managing director with the Southfield, Michigan, office of Berkadia, is keeping a close watch on the multifamily market. That’s because the requests for financing from developers and investors eager to play in this sector are still coming at a rapid clip. But there’s a trend with all those requests for multifamily construction financing: Developers are hoping to build luxury apartments, not those catering to renters with more modest incomes.

Finance N Illinois
The North Avenue Commerce Center at 27W460 St. Charles Road in Winfield, Illinois.

Associated Bank loans $23M for two Chicago-area construction projects

Associated Bank completed two construction loans totaling more than $23.4 million. The first loan, for $13,020,000, was to Conor Commercial Real Estate for the construction of a 265,550-square-foot speculative industrial building on previously vacant land at 27W460 St. Charles Road in Winfield, Illinois. Construction of the North Avenue Commerce Center is expected to be completed by the end of this year.