CAPRE’s Commercial Real Estate Headlines for September 16, 2019

Check out the latest deals and developments in commercial real estate for September 16, 2019: Elevation Announces Acquisition Of Two Senior Properties In Illinois: Elevation Financial Group is excited to announce the purchase of two senior properties for a total purchase price of $10.7 million. This acquisition brings the total number of properties purchased within the past two months to eight and represents the first purchase for Elevation in the state of Illinois. The first property, Homestead at Montvale, is a 160-unit 55+ senior property acquired by Elevation Real Property VII, LLC (The Apollo Fund). The property was purchased for $8.4 million or $52,500/unit. The three-story community was built in 1999 and features an elevator, a game room, library, community rooms and additional amenities designed to serve senior residents. The second property, acquired by Elevation Real Property Fund VI, LLC, is a 60-unit 55+ independent senior community purchased for $2.3 million or $38,333/unit. Built in 1996, Homestead Place is located in Springfield, Illinois. Plymouth Industrial REIT Completes Acquisitions Totaling $90.5 Million in Four Targeted Industrial Markets: Plymouth Industrial REIT has completed the previously announced acquisitions of industrial buildings in Chicago, Cincinnati, Columbus and Memphis totaling 2.2 million square feet for total consideration of $90.5 million. The acquisitions were funded with proceeds from the Company‚Äôs May equity offering, borrowings on its expanded credit facility and the assumption of existing mortgage loans. On August 29, 2019, Plymouth purchased two industrial buildings in…