Heartland Real Estate Business • January 2024 • 5

HEARTLAND GROUNDBREAKERS ElmTree Funds ElmTree Funds, a net-lease real estate private equity ﬁ rm, has welcomed Phoebe Jo-seph to the role of director, investor relations. Prior to join-ing ElmTree, Joseph served as Joseph senior vice president of investor relations at Argosy Real Estate Partners, where she led the investor relations team and was respon-sible for capital formation and coverage of all new and existing investors across the United States. Previously, Joseph was an associate of capital markets at FPA Multifamily where she focused on fundraising and relationship management for new investors throughout the United States and Europe. Sponsored Section Tarlton Tarlton, a general contracting and construction manage-ment ﬁ rm, has promoted Nick Eshelman to senior project manager. Eshelman, who has 13 years of experience in the Eshelman construction industry, joined Tarlton in early 2014 as a project engineer. He was promoted to senior project engineer in 2018 and project manager in 2019. During his tenure at Tar-lton, Eshelman supported project directors and collaborated with owners, architects, engineers and superintendents on projects for Washington University in St. Louis, Washington University School of Medicine, SSM Health, Contemporary Art Museum St. Louis, St. Louis Community College and Saint Louis Science Center. NAI Hiffman NAI Hiffman and Hiffman Na-tional, the ﬁ rm’s management services division, announced the elevation of current pres-ident John Heiberger to the additional role of chief execu-Heiberger tive ofﬁ cer, effective Jan. 1, 2024. Heiberg-er’s appointment coincides with the launch of a new national advisory services group, including an expanded lender services busi-ness, in response to rapidly changing mar-ket conditions and associated client needs. The advisory services group will be housed within Hiffman National. Current CEO Dave Petersen will transition to chairman of the board of directors, while Dennis Hiffman, a 50-year industry veteran who founded Hiff-man in 1981, will transition to founder and chairman emeritus of the board of directors. Krusinski Construction Co. Krusinski Construction Co. Chairman and Founder Joe Krusinski Sr. announced his retirement from his day-to-day involvement in the organiza-tion, effective Jan. 1, 2024. He Krusinski will continue to serve as chairman emeritus. Since establishing the ﬁ rm in 1973, Krusinski Sr. has been involved in projects across mul-tiple sectors, including ofﬁ ce, distribution, food & beverage, healthcare, multifamily and more. His ﬁ rst project was a 102,000-square-foot multi-tenant speculative ofﬁ ce/ware-house facility located in Itasca, Ill. that still stands today. As part of its succession plan, Krusinski Construction Co. has named Jerry Krusinski as executive chairman and Jeff Krusinski as CEO, in addition to his current role as president. Kraus-Anderson To meet the construction growth in the Upper Midwest, Kraus-Anderson has opened a new regional ofﬁ ce in Fargo, N.D., located at 1100 NP Ave. The ofﬁ ce’s regional director Wilmes is Ross Wilmes , who serves as Kraus-Anderson’s vice president and director of op-erations for North Dakota. He is an industry veteran with a thorough understanding of the region, having built solid relationships with regional and local owners, architects, engineers, subcontractors and suppliers over the last 25 years. His project management experience includes working with schools, healthcare, higher education, state and lo-cal governments, Native American tribes and the military, as well as with the private sector. Marquette Management Marquette Cos., a national multifamily developer, investor and manager, announces that Jack Devedjian has joined Marquette Management as director of capital projects Devedjian and facilities. In his new role, Devedjian will oversee capital programs and construction projects as a member of the ﬁ rm’s leader-ship team. Most recently, Devedjian served as vice president of facilities management and engineering at Chicago-based Habitat, where he directed and managed long-term capital projects averaging $30 to $40 million annually. Prior to that, he was senior vice president of real estate development at the YMCA of Metropolitan Chicago. McCarthy McCarthy Holdings Inc. has promoted Justin McFarland to chief administrative ofﬁ cer. In this role, he will oversee a variety of McCarthy’s corpo-rate departments, including McFarland diversity, equity and inclusion, information technology, innovation and marketing com-munications. McFarland joined McCarthy in 2016 as vice president, information systems, overseeing the ﬁ rm’s companywide IT func-tion. In 2019, he was promoted to senior vice president, information systems and in 2020 to executive vice president, information systems, joining the company’s enterprise leadership team. In 2022, McFarland was recognized as the St. Louis ORBIE CIO of the Year for his achievements. Entre Commercial Realty Entre Commercial Realty an-nounces that John Joyce has joined the team to expand the ﬁ rm’s coverage in the North and Northwest Chicago sub-urban markets. Joyce began Joyce his commercial real estate career in the Chi-cagoland market in 2018. He quickly emerged as a trusted advisor, offering comprehensive brokerage services to both owners and users of commercial real estate. Joyce specializes in the leasing, acquisition, disposition and development of industrial, ofﬁ ce, land and investment properties. He formed a team with business partner Sam Deihs in 2023 and together, they bring 10+ years of brokerage experience to each project. Prior to joining Entre Commercial in 2023, Joyce was a vice president at Lee & Associates. Kiser Group Radina Dimova has joined Kiser Group as an advisor, con-tributing with her knowledge and expertise to better serve investors, property owners and developers in the Northwest Dimova suburbs of Chicago. With a background as a real estate investor herself, Dimova brings a unique perspective that allows her to deeply comprehend the intricacies of the local mar-ket. Lee & Associates Lee & Associates of Illinois has promoted Michael O’Leary to executive vice president from senior vice president. O’Leary has been a member of the ﬁ rm’s industrial O’Leary real estate division since 2019. He specializ-es in the leasing, acquisition and disposition of properties across a wide range of Chica-go’s industrial submarkets, including I-80, I-294 and Northwest Indiana. To publish news about new hires, promotions or awards, visit www.francemediainc.com/regional-groundbreakers. Questions? Contact Barb Sherer at 404.832.8262 or bsherer@francemediainc.com. FINANCE FINANCIAL SCOREBOARD Loans Recently Closed For Midwest Properties SIZE PROPERTY CLASS LOCATION (CITY, STATE) Inver Grove Heights, Minn. AMOUNT LENDER ARRANGED BY Avalon Apartments and Townhomes Multifamily 244 units $60.1 million Alerus, Centerspace JLL Capital Markets Three-property portfolio Affordable housing Arcadia, Rensselaer and Fowler, Ind. 176 units $19.7 million Fifth Third Bank, USDA BWE Reserve on Park Place Affordable seniors housing Fort Wayne, Ind. 187 units $17.4 million Merchants Capital N/A Labor Retreat Apartments Affordable housing Minneapolis 77 units $10.8 million HUD Colliers Mortgage 170-unit portfolio Student housing Champaign, Ill. 616 beds $10 million Midwest regional bank BWE Unnamed Multifamily Loves Park, Ill. 60 units $4.2 million CMBS American Street Capital Ewing Square Townhomes Affordable housing Brooklyn Center, Minn. 23 units $3.2 million HUD Colliers Mortgage