DETROIT—Marcus & Millichap has just named Andrew Daitch of the firm's Detroit office an executive managing director, investments. The position is the highest level a M&M investment professional can attain, according to Steven Chaben, senior vice president. Previously, Daitch was a senior managing director, investments. He began his M&M career in 1999 as an assistant in the Detroit office. He specializes multifamily investments and is a HUD, low-income housing and Section 8 properties investment expert. A senior director of the company's national multi housing group, Daitch has been one of the firm's top 10 multifamily agents for the past eight years and has ranked among the top 10 agents in the firm nationwide five times.

CHICAGO—Truss, a commercial real estate tech platform, recently closed a $7.7 million series A round led by Navitas Capital. Additional investors include Hyde Park Angels with a board seat to Jeffrey Hammes, chairman of Kirkland & Ellis and a board observer role by Meredith Mendes, chief operating officer and executive director of Jenner & Block. Hyde Park Venture Partners is reinvesting after the initial seed round. With the latest funding, Truss has raised over $9 million in total capital. The platform was created to solve a crucial pain point in the CRE industry: the office search process for companies needing space under 10,000 square feet. Truss will use the investment for additional market expansion, product development and improving the customer experience using Matterport's best of breed 3D touring technology. This funding comes after two successful launches in Chicago and Dallas.

DEALTRACKER

CHICAGO—Pillar Financial, a division of SunTrust Bank and provider of financing for affordable and market rate multifamily and healthcare properties, has originated an $11 million loan for the acquisition of Mill Pond Village MHC located at 1500 Old Mill Ln. in Lansing, MI. The property is about seven miles from Michigan State University and the State Capitol. Adam Klingher, managing director of Pillar's Chicago-based multifamily and manufactured housing group, originated a fixed-rate, 15-year Fannie Mae loan with a 30-year amortization rate. The transaction closed on July 14, 2017. Mill Pond Village MHC is a three-star, all-age manufactured housing community built in 1973 that contains 356 sites. Forty percent of the sites can accommodate double-wide homes. The property was 93% occupied at time of close. Pillar sourced the transaction through Chris San Jose, head of lending operations at Yale Realty & Capital Advisors, a key Pillar correspondent based in Miami.

WARREN, MI—Petzold Enterprises today announced Old Navy as the latest retailer to sign a multi-year lease with the newly renovated Warren Tech Plaza—bringing total occupancy to about 90%. Old Navy joins other recent popular retail additions Marshals, DSW, Carters/OshKosh, Five Below, and Ulta, along with Wal-Mart, positioning Tech Plaza as the downtown shopping destination for Michigan's third largest city and surrounding communities. Prior to Petzold acquiring the plaza in 2014, it was in a significant state of disrepair and almost completely vacant. Located across from General Motors Tech Center at the intersection of Van Dyke and 12 Mile Road, Tech Plaza enjoys a rich and historic past, originally opening in 1960 to great fanfare. That same year, Senator John F. Kennedy delivered a campaign speech from the location just 13 days prior to winning the US Presidential election.

KANSAS CITY, KS—SpringHill Suites by Marriott recently opened at 17190 W. 87th St. Pkwy. in Lenexa, KS. The $20 million 86,000-square-foot five-story hotel includes 124 all-suite rooms, a 1,300-square-foot meeting space, lobby bar, fitness center, and indoor pool. The hotel is located 24 miles southwest of downtown Kansas City, MO, and will be part of the $50 million mixed-use Lenexa City Center development. The completed project occupies 200 acres at the intersection of 87th St. Pkwy. and Renner Blvd. Tenants to date include two restaurants, Grand Street and Ignite Wood Fire Grill; Lenexa Public Market, an 11,000-square-foot food hall and market that leases space to local owner-operated businesses offering fresh foods and artisanal products; the 100,000-square-foot Lenexa Rec Center, and Park University. Maryland Heights, MO-based Midas Hospitality, a hotel management group, is managing the hotel, and sister company MC Hotel Construction was the builder.

NEWS & NOTABLES

DETROIT—Sachse Construction, a Detroit-based construction management firm, has made two significant changes to its leadership team: Jay McKee will now serve as vice president, director of pre-construction, and Kevin Blind joins the leadership team through a promotion to vice president of commercial operations. “Jay and Kevin are strong leaders and instrumental to the current growth of our company,” says president and chief operating officer Steve Berlage. “Their construction expertise and dynamic leadership has raised the bar on our customer service in delivering projects to our clients and enabling the company to grow our customer base in new and existing markets.” McKee has been vice president since October 2014, and his experience spans the commercial, healthcare, retail, pharmaceutical, data center and manufacturing markets. Blind has been with Sachse since 2010 and brings 20 years of experience to his new role.

DETROIT—Marcus & Millichap has just named Andrew Daitch of the firm's Detroit office an executive managing director, investments. The position is the highest level a M&M investment professional can attain, according to Steven Chaben, senior vice president. Previously, Daitch was a senior managing director, investments. He began his M&M career in 1999 as an assistant in the Detroit office. He specializes multifamily investments and is a HUD, low-income housing and Section 8 properties investment expert. A senior director of the company's national multi housing group, Daitch has been one of the firm's top 10 multifamily agents for the past eight years and has ranked among the top 10 agents in the firm nationwide five times.

CHICAGO—Truss, a commercial real estate tech platform, recently closed a $7.7 million series A round led by Navitas Capital. Additional investors include Hyde Park Angels with a board seat to Jeffrey Hammes, chairman of Kirkland & Ellis and a board observer role by Meredith Mendes, chief operating officer and executive director of Jenner & Block. Hyde Park Venture Partners is reinvesting after the initial seed round. With the latest funding, Truss has raised over $9 million in total capital. The platform was created to solve a crucial pain point in the CRE industry: the office search process for companies needing space under 10,000 square feet. Truss will use the investment for additional market expansion, product development and improving the customer experience using Matterport's best of breed 3D touring technology. This funding comes after two successful launches in Chicago and Dallas.

DEALTRACKER

CHICAGO—Pillar Financial, a division of SunTrust Bank and provider of financing for affordable and market rate multifamily and healthcare properties, has originated an $11 million loan for the acquisition of Mill Pond Village MHC located at 1500 Old Mill Ln. in Lansing, MI. The property is about seven miles from Michigan State University and the State Capitol. Adam Klingher, managing director of Pillar's Chicago-based multifamily and manufactured housing group, originated a fixed-rate, 15-year Fannie Mae loan with a 30-year amortization rate. The transaction closed on July 14, 2017. Mill Pond Village MHC is a three-star, all-age manufactured housing community built in 1973 that contains 356 sites. Forty percent of the sites can accommodate double-wide homes. The property was 93% occupied at time of close. Pillar sourced the transaction through Chris San Jose, head of lending operations at Yale Realty & Capital Advisors, a key Pillar correspondent based in Miami.

WARREN, MI—Petzold Enterprises today announced Old Navy as the latest retailer to sign a multi-year lease with the newly renovated Warren Tech Plaza—bringing total occupancy to about 90%. Old Navy joins other recent popular retail additions Marshals, DSW, Carters/OshKosh, Five Below, and Ulta, along with Wal-Mart, positioning Tech Plaza as the downtown shopping destination for Michigan's third largest city and surrounding communities. Prior to Petzold acquiring the plaza in 2014, it was in a significant state of disrepair and almost completely vacant. Located across from General Motors Tech Center at the intersection of Van Dyke and 12 Mile Road, Tech Plaza enjoys a rich and historic past, originally opening in 1960 to great fanfare. That same year, Senator John F. Kennedy delivered a campaign speech from the location just 13 days prior to winning the US Presidential election.

KANSAS CITY, KS—SpringHill Suites by Marriott recently opened at 17190 W. 87th St. Pkwy. in Lenexa, KS. The $20 million 86,000-square-foot five-story hotel includes 124 all-suite rooms, a 1,300-square-foot meeting space, lobby bar, fitness center, and indoor pool. The hotel is located 24 miles southwest of downtown Kansas City, MO, and will be part of the $50 million mixed-use Lenexa City Center development. The completed project occupies 200 acres at the intersection of 87th St. Pkwy. and Renner Blvd. Tenants to date include two restaurants, Grand Street and Ignite Wood Fire Grill; Lenexa Public Market, an 11,000-square-foot food hall and market that leases space to local owner-operated businesses offering fresh foods and artisanal products; the 100,000-square-foot Lenexa Rec Center, and Park University. Maryland Heights, MO-based Midas Hospitality, a hotel management group, is managing the hotel, and sister company MC Hotel Construction was the builder.