REBusinessOnline

KeyBank Arranges $118.7M Financing for Medical Office Portfolio

CLEVELAND — Cleveland-based KeyBank Real Estate Capital has arranged $118.7 million in financing for a 20-property medical office portfolio located across 12 states. The borrower, Healthcare Trust Inc., will use the loan to refinance existing debt, facilitate new acquisitions and for general corporate purposes. Charlie Shoop and Joe DeRoy of KeyBank arranged the 10-year loan, which features a fixed interest rate of 4.5 percent. Details of the lender and the properties were not

Embassy Suites by Hilton Opens in Noblesville, Indiana

NOBLESVILLE, IND. — Embassy Suites by Hilton has opened in Noblesville, just north of Indianapolis. Owned and managed by Sun Development and Management, the hotel features 198 suites and more than 29,000 square feet of meeting space. Each suite includes complimentary Wi-Fi, a large high-definition television, sofa bed, microwave, mini refrigerator, coffeemaker and workspace. The Local Kitchen and Tap is the property’s on-site restaurant. Additional amenities include a fitness center, …

Outlook Management Group to Manage 105-Unit Luxury Apartment Property in Chicago

CHICAGO — Outlook Management Group LLC has begun managing Seven 10 West, a luxury apartment property in Chicago’s River West neighborhood. Developed this year by Outlook Development and Wicker Park Apartments, the 105-unit luxury apartment building is located at 710 W. Grand Ave. The property features 5,000 square feet of ground-floor retail space. Amenities include a fitness center, rooftop patio, kitchen space and bike

SVN Brokers $2.4M Sale of Two Properties Occupied by Dollar General in Illinois

SHEFFIELD AND STREATOR, ILL. — SVN | Chicago Commercial has brokered the sale of two properties occupied by Dollar General in Illinois for a combined $2.4 million. One property is located at 435 Railroad St. in Sheffield and the other is situated at 110 E. Livingston Road in Streator. Deena Zimmerman of SVN represented the buyer, who has now purchased six Dollar Stores within 16 months. The seller was not

Darwin Brokers Sale of 5,000 SF Industrial Building in Franklin Park, Illinois

FRANKLIN PARK, ILL. — Darwin Realty has brokered the sale of a 5,000-square-foot industrial building in Franklin Park for an undisclosed price. The property is located at 9129 Belden Ave. Amish Farmers, an organic foods retailer, purchased the property with expansion plans. The company, which sells meats, produce and other groceries, will use the property for warehouse space to supplement its retail outlet. Rollo Dace of Darwin represented the seller, Carbonara

InterFace Seniors Housing Midwest Conference Scheduled for June 7 in Chicago

Seniors Housing Business magazine and InterFace Conference Group will host the 4th annual InterFace Seniors Housing Midwest conference on June 7 at the Marriott Marquis Chicago. The conference will focus on the state of seniors housing investment, development, operations and financing across markets in the Midwest. It is designed to bring together the leading owners, operators, investors, developers and lenders/financial intermediaries active in the region. InterFace Seniors Housing …

PEP Acquires 713-Bed Student Housing Community Near Indiana University

BLOOMINGTON, IND. — Pierce Education Properties (PEP) has acquired Smallwood Plaza near Bloomington’s Indiana University. The 713-bed student housing community is located a half-mile from the university. Amenities include laundry rooms, study lounges and a fitness center. The new ownership plans to upgrade unit interiors with new flooring, 50-inch televisions and furniture. The seller was not

Bernard Arranges $4.8M Refinancing for Industrial Property in Chesterfield Township, Michigan

CHESTERFIELD TOWNSHIP, MICH. — Bernard Financial Group has arranged a $4.8 million loan for the refinancing of a 145,063-square-foot industrial property in Chesterfield Township, about 30 miles north of Detroit. An undisclosed tenant occupies the building. David Dismondy of Bernard arranged the loan on behalf of the borrower, 50625 RWB LLC. Genworth Life Insurance Co. provided the

Colliers Brokers Sale of Former Car Dealership in Palatine, Illinois

PALATINE, ILL. — Colliers International has brokered the sale of a former Jaguar car dealership in Palatine, located about 35 miles northwest of Chicago. The sales price was not disclosed, but the asking price was $3.3 million. Studio 41, a kitchen and bath plumbing fixtures manufacturer, purchased the 30,000-square-foot property with plans to convert it into a home design showroom. Upon completion, the property will be open to homeowners, contractors, designers and architects. Anne Dempsey …

Marmo Meccanica Purchases 13,519 SF Industrial Building in Pontiac, Michigan

PONTIAC, MICH. — Marmo Mecccanica NA has purchased a 13,519-square-foot industrial building in Pontiac for an undisclosed price. The company, which specializes in the manufacturing of edge polishing and bridge cutting machines used in granite fabrication, will relocate to the space at 1590 E. Highwood Blvd. Built in 1990, the building features overhead cranes and a flexible floor plan to accommodate expansion. Tom Jablonski of L. Mason Capitani CORFAC International represented Marmo Meccanica …