Finance N Illinois
Old Town multifamily project a go with closing of funding round

Old Town multifamily project a go with closing of funding round

New York-based Prodigy Network has closed the first round of equity funding for a seven-story multifamily building in the Old Town neighborhood, its inaugural project in Chicago. The $22 million raised will facilitate property acquisition and predevelopment costs for the project at 1400 N. Orleans Street, Old Town Residences, which moves to begin construction in second quarter 2019.

Finance N Illinois
Matthew Reilein;National Equity Fund

National Equity Fund names Matthew Reilein as president and CEO

National Equity Fund, a syndicator of the low-income housing tax credits (LIHTC) program, announced the appointment of Matthew Reilein as president and CEO, effective June 1, 2019. Reilein will oversee all day-to-day operations of the Chicago-based nonprofit, including the effective implementation of all policies and programs. Reilein will succeed Joseph S. Hagan who is retiring after 19 years with the organization.

Finance W Minnesota
Matt Maney

Cadence opens office in Minneapolis

Cadence, a growing capital markets intermediary with a primary focus on raising equity for commercial real estate developers and sponsors, opened a new regional office in the greater Twin Cities area. The new office, at 3601 Minneapolis Drive in Minneapolis, is the third for Cadence, which also has offices in Denver and Chicago.