Detroit

The full-service real estate advisory firm now serves as one of the largest privately-held multifamily brokerage firms in the U.S.

The acquired 27-asset portfolio brings the company's national multifamily portfolio to total more than 23,000 units.

The company has expanded its Midwest portfolio by 4,200 sites, situated across Illinois, Indiana and Michigan.

The acquisition of the 250,524-square-foot, Grand Rapids property represents the state's highest multifamily sales price since 2019.

The Detroit-based real estate firm Bedrock will provide 2,400 square feet rent-free for the Boys and Girls Clubs of Southeastern Michigan's first Industry Club.

Also, small businesses and restaurant tenants that received rent abatement for April and May can continue to do so for June.

Illinois Gov. JB Pritzker, Michigan Gov. Gretchen Whitmer, Ohio Gov. Mike DeWine, Wisconsin Gov. Tony Evers, Minnesota Gov. Tim Walz, Indiana Gov. Eric Holcomb and Kentucky Gov. Andy Beshear jointly announced the COVID-19 partnership.

The Philadelphia-based retail REIT estimates the measures will create nearly $300 million in incremental liquidity.