Minneapolis

The fund, through its affiliated entities, plans to develop a 120-room hotel, operated under a nationally recognized brand, and a six-story, 144-unit apartment community at the site.

Padilla, who has served as CEO for 20 years, will become executive chair of the Minneapolis-based firm at that time.

West Monroe Partners' employees will move into the new space in the fall of 2020 from its current headquarters is at 222 W. Adams St., in The Franklin, where it has been since 2012 and currently leases 104,000 square feet.

Construction on the two-building complex will begin this month and should be completed by June 2020, according to the Minneapolis-headquartered firm.

IRET also has closed on the sale of its entire Topeka portfolio consisting of 1,042 multifamily homes for $82.75 million.

Since 2017, the Chicago area has seen a slight increase in investment within Opportunity Zones, while values in those areas have decreased.

Charlotte, NC-based Grandbridge Real Estate Capital facilitated the closing of an $88,342,000 refinance loan secured by The Atlas Apartments.

The purchaser was a California-based family office with extensive experience acquiring and managing trophy quality, grocery anchored shopping centers throughout the United States, Pegasus Investments states.