Midwest

Capstone On-Campus Management of Birmingham, AL has been selected by Radnor and Harrison Street and has been approved by Lafayette to manage and maintain the property once it opens in the fall of 2020.

The deal, through a subsidiary that will serve as asset manager for the Colorado multifamily properties, was facilitated on behalf of IPC's 1031 investment programs—Colorado Multifamily DST.

The portfolio consists of 774 service-oriented retail properties net leased to tenants in 22 different industries.

In a blockbuster session, the Illinois House and Senate came to agreement on a $40-billion state budget, a $45-billion Rebuild Illinois infrastructure plan, a sports betting bill that will allow a casino in the City of Chicago and smaller gaming operations in the suburbs and a bill to legalize recreational marijuana in the state.

Deloitte Insights predicts that demand growth for industrial product will fall below 1% annually due to increased supply and a high cost of capital.

"It seems likely that fundraising will become an even more challenging prospect for many managers as competition continues to intensify."