REBusinessOnline

R&R Realty to Build 13,867 SF Health Clinic for UnityPoint in Urbandale, Iowa

URBANDALE, IOWA — R&R Realty Group (R&R) will develop a 13,867-square-foot, build-to-suit health clinic for UnityPoint Clinic in its Center Pointe business Park in Urbandale. Slated to open in fall 2020, the clinic will offer urgent care, a sports medicine and concussion center along with physical therapy services. Located at the junction of 100th Street and I-80/35 in Urbandale’s Urban Loop, Center Pointe Business Park will contain more than 1 million square feet of office and …

NorthMarq Arranges $12.5M Refinancing for Seniors Housing Property in Bettendorf, Iowa

BETTENDORF, IOWA — NorthMarq has arranged a $12.5 million loan for the refinancing of The Fountains Independent Living in Bettendorf. The seniors housing property is located at 3728 Thunder Ridge Road. Jason Kinnison of NorthMarq structured the loan with an immediate funding of $8.5 million and a construction component in the amount of $4 million, which will be used to complete an addition to the property. The borrower was not

Blueprint Negotiates Sale of 15-Property Skilled Nursing Portfolio in Midwest

NEBRASKA, IOWA AND KANSAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of 15 skilled nursing facilities in Nebraska, Iowa and Kansas. The portfolio included 10 locations in Nebraska, four in Iowa, and one in Kansas, and consists of over 950 licensed beds. The facilities are in predominantly secondary and tertiary submarkets, and the majority were built in the 1960s and 1970s. Blueprint’s Michael Segal, Ben Firestone and Steve Thomes handled the transaction. Buyer and …

Berkadia Arranges Sale of Four-Property Multifamily Portfolio in Davenport, Iowa

DAVENPORT, IOWA — Berkadia has arranged the sale of a 413-unit, four-property multifamily portfolio in Davenport for an undisclosed price. The properties, built in the late 1970s, include The Racquet Club, Candlelight Commons, Candlelight Village and Candlelight Colony. Parker Stewart, Alex Blagojevich and Michael Sullivan of Berkadia represented the seller, Iowa-based Advance Homes Inc. Colorado-based Monarch Investment and Management Group purchased the portfolio. Peter Benedetto of …

Opus Completes Lease-up of 200,000 SF Industrial Building in Ankeny, Iowa

ANKENY, IOWA — The Opus Group has completed the lease-up of Corporate Woods II, a 200,000-square-foot speculative industrial building in Ankeny. Tenants include Carroll Tire Co., Alfa Laval, Berlin Packaging and Harrell’s Car Wash Systems. The building serves as the second phase of Corporate Woods Industrial Park. Opus is set to begin work on the third and final phase of the industrial park this fall. The final building will span 200,000 square feet and is slated for completion in 2020. JLL …

Dougherty Provides $26.7M Refinancing for Apartment Complex in Des Moines

DES MOINES, IOWA — Dougherty Mortgage LLC has provided a $26.7 million Fannie Mae loan for the refinancing of Soll Apartments in Des Moines. Constructed in 2018, the 165-unit apartment complex rises four stories and includes 12,996 square feet of retail space. Amenities include a fitness center, community room, rooftop patio, pool and bike storage. The 15-year loan features a 30-year amortization schedule. 2301 Ingersoll LLC was the

Flood of Development Activity Continues in Cedar Rapids

As I have enjoyed writing in six previous August articles since 2013, we have seen Cedar Rapids, the 2014 “All-America City,” go from flood recovery in 2008 and 2016 to record levels of development. The city set a record for building permits in fiscal year 2018 of $375 million, which was $133 million over the previous year and $29 million more than the 2012 record by $29 million. Activity in fiscal year 2019 is estimated to be a very impressive $320 million. Flood protection system reached …

Stahl to Construct $28M Elementary School in Urbandale, Iowa

URBANDALE, IOWA — The Urbandale Community School District has selected Stahl to construct a two-story, 118,000-square-foot elementary school. The $28 million building, located at 7110 Prairie Ave., will replace the existing Olmsted Elementary. In addition to classrooms, the building will feature a kitchen and cafeteria, gymnasium, administration area and auxiliary spaces. Urbandale’s new school is part of a $59 million bond referendum and long-term facilities plan for the district to meet …

Disney Investment Group Brokers Sales of Five Retail Centers in Missouri, Iowa

MISSOURI AND IOWA — Disney Investment Group (DIG) has brokered the sales of five retail centers in Missouri and Iowa. Sales prices were not disclosed. The properties total 438,861 square feet and are 91 percent occupied on average. Major tenants include Aldi, Gerbes, County Market, Orscheln, Fresenius Medical, Dollar Tree and Dollar General. David Disney and Adam Crockett of DIG brokered the sales on behalf of the seller, a private investment partnership. The team also procured the buyers for …

Stan Johnson Co. Brokers $16.9M Sale of Iowa Industrial Portfolio

IOWA — Stan Johnson Co. has brokered the sale of a four-building industrial portfolio across Iowa for $16.9 million. The properties total nearly 684,000 square feet and are leased to a subsidiary of Magna International Inc. The buildings include 408 and 411 Maplewood Ave. in Williamsburg, 403 S. 8th St. in Montezuma, and 1951 A Ave. in Victor. Rob Gemerchak and Jeff Hughes of Stan Johnson represented the seller, Granite REIT, a Toronto-based publicly traded real estate investment trust. New …

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