Senior Lifestyle Corp. Breaks Ground on Seniors Housing Community Near St. Louis

SUNSET HILLS, MO. — Senior Lifestyle Corp. has broken ground on The Sheridan at Laumeier Park, a 69,000-square-foot seniors housing community in Sunset Hills, approximately 15 miles southwest of St. Louis. The project, expected to be complete in early 2017, will feature 43 assisted-living apartments plus 41 memory care residences. The Sheridan at Laumeier Park will be situated on 3.9 acres at 12470 Rott Road. Residents will have access to nearly 38,000 square feet of amenity space, which will …

NorthMarq Arranges $3.5M Loan for Acquisition of 72-Unit Apartment Property Near Minneapolis

ROCHESTER, MINN. — NorthMarq Capital has arranged a $3.5 million acquisition loan for a 72-unit multifamily property in Rochester, approximately 85 miles southeast of Minneapolis. Bear Creek Apartments is located at 1405, 1455 and 1505 Marion Road SE. The 10-year loan features a 25-year amortization schedule. Michael Padilla of NorthMarq placed the financing with a local bank on behalf of the undisclosed

Sioux City Experiences ‘Crane Craze’ Across Property Types

The skies are dotted with cranes — not the type you would find on route west to the Sandhills of Nebraska, but the type synonymous with a robust economy. It is safe to say there have never been so many cranes at work in the history of Sioux City. Several large industrial projects are resulting in further development of retail and multifamily space that has been in demand for some time in Sioux City. Retail, entertainment wave [caption id="attachment_159994" align="alignright" …

NorthMarq Arranges $39.6M Loan for 20-Story Office Building in Cincinnati

CINCINNATI — NorthMarq Capital has arranged a $39.6 million loan to refinance the Omnicare Center, a 20-story, Class A office building in Cincinnati. Susan Branscome of NorthMarq placed the 10-year loan with a major life insurance company on behalf of the borrower, Smith Hallemann Partners. The building includes amenities such as a barbershop with shoe shine and repair services, a Starbucks, transportation services, a conference center, dry cleaning shop and

Strategic Capital Partners, University of Indianapolis Open Greyhound Village Student Housing Community

INDIANAPOLIS — A joint venture between the University of Indianapolis and Strategic Capital Partners has opened Greyhound Village, a 486-bed, on-campus student housing community. The $25 million community offers one-, two-, three- and four-bedroom, fully furnished apartments, complete with kitchens, living rooms, private bathrooms, washers and dryers. Amenities include a fitness center, clubhouse and indoor and outdoor common areas. Schmidt Associates architects designed the project, which …

Novak Construction Breaks Ground on 25-Unit Senior Living Apartment Complex in Illinois

RICHMOND, ILL. — Novak Construction has broken ground on a 22,000-square foot affordable senior living apartment complex in Richmond, approximately 70 miles northwest of Chicago. Creekview Apartments, to be located at 5615 Liberty St., will offer four two-bedroom units and 21 one-bedroom units. Amenities at the property will include a walking trail, health and wellness programing, a computer lab, a library, community room, concierge and transportation services and on-site property management. …

Meridian Design Build Completes Renovation of 115,000 SF Manufacturing Facility in Metro Chicago

WHEELING, ILL. — Meridian Design Build has completed the renovation of an 115,000-square-foot food manufacturing facility in Wheeling, approximately 30 miles northwest of Chicago. Richelieu Foods occupies the building, which features nine refrigerated loading docks, a 20,500-square-foot refrigerated warehouse, 33,500 square feet of production space and a 3,250-square-foot freezer. The building, located at 120 W. Palatine Road, is Richelieu’s fifth operating

Friedman Arranges 5,319 SF Office Lease Near Detroit

SOUTHFIELD, MICH. — Friedman Integrated Real Estate Solutions has arranged a 5,319-square-foot office lease in Southfield, approximately 15 miles northwest of Detroit. The landlord, 26711 Office Associates LLC, will lease space to Real Estate Services Solutions Company (RESSCO), which will occupy the space this November. RESSCO will continue to occupy space at its current location in the Omni Officecentre until its lease expires in late 2017.
David Friedman and Dan Verderbar of Friedman …

BGL Real Estate Advisors Arranges $81M Loan for Redevelopment of Historic Cleveland Building

CLEVELAND — BGL Real Estate Advisors LLC has arranged an $81 million construction loan for Weston Inc. The company plans to convert the Standard Building, which was originally built for Standard Bank in the 1920s, into a mixed-use building. The building is currently used as Class B office space and will be transformed into luxury apartments with ground-floor retail. Financing consisted of senior construction debt, subordinated bridge debt, municipal city and state agency debt, Federal and …

CIT Real Estate Finance Negotiates $61.8M in Acquisition Financing for Office Buildings in Metro Chicago

DEERFIELD, ILL. — CIT Real Estate Finance has arranged $61.8 million in acquisition financing for three office properties totaling 480,000 square feet in Deerfield, approximately 30 miles northwest of Chicago. A joint venture between True North Management Group and Fulcrum Asset Advisors, TNREF III Parkway JV LLC, acquired the Class A buildings. The properties are 3 Parkway North, 6 Parkway North and 9 Parkway North, which are all located within the Parkway North Center Office Park, an …

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