Midwest

The firm has obtained five assets of 844,000 square feet in the Madrid and Barcelona office markets.

The average US multifamily rent increased by $12 to $1,465 in June, according toYardi-Matrix.

Chicago Mayor Lori E. Lightfoot announced on Wednesday that the city has submitted five sites to be tested: Harborside (111th and the Bishop Ford Freeway); the former Michael Reese hospital (31st and Cottage Grove); Pershing & State; Roosevelt & Kostner; and the former U.S. Steel parcel (80th and Lake Shore Dr.).

The capital will help Spruce expand its market presence outside of Texas, beginning with Denver, enable the company to scale its sales and marketing capabilities, and continue software development efforts.

The firm has appointed Greg Schementi, Cushman & Wakefield veteran, into the newly created role.

The company is broadening its marketplace to reach and connect multifamily lenders and borrowers.