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Related Companies, a national privately-owned real estate firm, has entered a joint venture with Atria Senior Living, Spitzer Enterprises and Welltower Inc. on a partnership to develop an upscale senior living community at 451 10th Ave.
The firm, fresh off its announcement last month that it had initiated a $12-billion investment strategy for its student housing and residential divisions, has hired real estate veteran Russell Brenner as president of the new medical office and life sciences entity.
Evergreen Real Estate Group commenced construction on the $81-million project at 4515 N. Winchester Ave. in Chicago's Ravenswood neighborhood last week.
The financing was originated by Square Mile Capital Management, LLC of New York City for the development of parcels EF and Q1, which will contain lab, office and retail space.