CINCINNATI—Al. Neyer has named Christina A. Walker vice president of human resources. Walker has more than 20 years of human resources experience, most recently as an executive leader of human resources at G&J Pepsi-Cola Bottlers, Inc., in Deerfield Twp., OH. “By joining our executive team, Christina will help Al. Neyer serve clients with greater skill and efficiency while we develop our current bench of talent and strategically plot a course for growth,” says president and chief executive officer Molly North. Prior to Walker's role at G&J Pepsi, she held leadership positions at Goodbaby International; Intelligrated, Inc.; and Cricket Communications Inc. Al. Neyer offers a full-range of real estate development and design-build construction solutions for commercial clients

DEALTRACKER

KANSAS CITY—Monarch Investment and Management Group of Franktown, CO recently purchased Regency North, a 180-unit, conventional multifamily community located in Kansas City, from North Kansas City-based Maxus Realty Trust Inc. The transaction was completed on July 18, 2017 at an undisclosed price. The Berkadia Kansas City investment sales team of Michael Sullivan and Brett Meinzer, along with the Alex Blagojevich of Berkadia's Chicago office, represented the seller. In addition, Pete Benedetto from Berkadia's Detroit office worked on behalf of the borrower to obtain financing. “The marketplace for well-located B and C class assets remains incredibly competitive,” says Sullivan. “We procured bids from all buyer types across the country. There were several groups that made a strong run at Regency North who didn't already own here or are getting pushed out of primary markets and looking to Kansas City for higher yields.”

DETROIT—A multifamily boom is underway in Detroit as thousands of young professionals seek to live near the city's CBD. But buyers like Jennie Silva and Paul Silva of Silva Properties have found attractive apartment buildings can still be bought for affordable prices. Detroit's booming downtown, but attractive apartment buildings are still available for affordable prices. New York-based Greystone Bel Real Estate Advisors helped Silva complete their recent purchase of Van Dyke Manor Apartments in Detroit, MI, for $2,545,000. Cary Belovicz, executive managing director of Greystone Bel, led the transaction on behalf of the buyers. The Van Dyke acquisition marks the fifth in Detroit for Silva, which focuses on providing condo-quality market rental housing in desirable neighborhoods. Silva also recently completed redeveloping The Isabelle at 51 W. Palmer in midtown Detroit.

BY THE NUMBERS

CHICAGO—As reported this week in GlobeSt.com, the data center industry is soaring, particularly in Chicago, one of the leading markets in the US for this sector. Users have leased 27 MW of capacity so far in 2017, and a local building boom is also underway, according to JLL. Developers have 56 MW under construction, and another 45 MW planned. The total inventory now stands at 8,400 MW, or about 3.8 million square feet.

NEWS & NOTABLES

MINNEAPOLIS—THOR Cos. is pouring on the work for its new 90,000-square-foot multi-tenant office/retail complex on the Minneapolis Northside, and plans to open the $36 million building next February. Furthermore, the workforce is composed of 45% minority workers, according to THOR's June 30 project numbers. And small businesses and minority businesses have won 28% of the contracted work awarded to date from THOR, as general contractor on the project, and various subcontractor companies. The numbers exceed the established minimal goals for the project set by THOR and its public-sector partner, Hennepin County. THOR, the 10^th largest Black-owned business in the country among industrial and services companies, had set out to achieve a 40% minority workforce. “We set the bar much higher, in terms of diversity hiring, for our project than is the norm in the Twin Cities and most other major markets in the country,” says Ravi Norman, chief executive officer.

CINCINNATI—Al. Neyer has named Christina A. Walker vice president of human resources. Walker has more than 20 years of human resources experience, most recently as an executive leader of human resources at G&J Pepsi-Cola Bottlers, Inc., in Deerfield Twp., OH. “By joining our executive team, Christina will help Al. Neyer serve clients with greater skill and efficiency while we develop our current bench of talent and strategically plot a course for growth,” says president and chief executive officer Molly North. Prior to Walker's role at G&J Pepsi, she held leadership positions at Goodbaby International; Intelligrated, Inc.; and Cricket Communications Inc. Al. Neyer offers a full-range of real estate development and design-build construction solutions for commercial clients

DEALTRACKER

KANSAS CITY—Monarch Investment and Management Group of Franktown, CO recently purchased Regency North, a 180-unit, conventional multifamily community located in Kansas City, from North Kansas City-based Maxus Realty Trust Inc. The transaction was completed on July 18, 2017 at an undisclosed price. The Berkadia Kansas City investment sales team of Michael Sullivan and Brett Meinzer, along with the Alex Blagojevich of Berkadia's Chicago office, represented the seller. In addition, Pete Benedetto from Berkadia's Detroit office worked on behalf of the borrower to obtain financing. “The marketplace for well-located B and C class assets remains incredibly competitive,” says Sullivan. “We procured bids from all buyer types across the country. There were several groups that made a strong run at Regency North who didn't already own here or are getting pushed out of primary markets and looking to Kansas City for higher yields.”

DETROIT—A multifamily boom is underway in Detroit as thousands of young professionals seek to live near the city's CBD. But buyers like Jennie Silva and Paul Silva of Silva Properties have found attractive apartment buildings can still be bought for affordable prices. Detroit's booming downtown, but attractive apartment buildings are still available for affordable prices. New York-based Greystone Bel Real Estate Advisors helped Silva complete their recent purchase of Van Dyke Manor Apartments in Detroit, MI, for $2,545,000. Cary Belovicz, executive managing director of Greystone Bel, led the transaction on behalf of the buyers. The Van Dyke acquisition marks the fifth in Detroit for Silva, which focuses on providing condo-quality market rental housing in desirable neighborhoods. Silva also recently completed redeveloping The Isabelle at 51 W. Palmer in midtown Detroit.