CHESTERTON, IND. — Mainstreet, an Indiana-based skilled nursing developer, and skilled nursing operator Symphony Post Acute Network have opened Symphony of Chesterton, a 106-bed skilled nursing facility in Chesterton, approximately 45 miles southeast of Chicago. Construction started in May 2015. Mainstreet developed the property and Symphony operates it. The 77,703-square-foot community cost $18.8 million to develop.
CLEVELAND —Cleveland, Ohio-based KeyBank Real Estate Capital has provided a total of $11.7 million in first mortgage loans for multiple parking garages in Indiana and Missouri. MVP REIT sponsors the properties. KeyBank provided an $8.2 million loan for a portfolio consisting of City Park Garage and Surface Parking Lot, both located in the central business district of Indianapolis. KeyBank also provided an additional $3.5 million loan for three surface parking lots, two in St. Louis and one in Kansas City. Randy Martin of KeyBank arranged the CMBS, non-recourse loans.
INDIANAPOLIS, PLAINFIELD AND BROWNSBURG, IND. — An entity led by Biynah Industrial Partners and Olympus Ventures has acquired an eight-building industrial portfolio in Indianapolis for $167 million. The Class A portfolio totals nearly 4 million square feet and was purchased from an affiliate of Transpacific Development Co. (TDC). The transaction also includes 42 acres of vacant land in addition to the eight buildings. Each facility is located within a master-planned distribution center. The portfolio is 94 percent occupied. Four buildings, which total 1.5 million square feet, are located in the Airwest Industrial Park in Plainfield. Two buildings, each 281,580 square feet, are situated in the AmeriPlex development in Indianapolis. EaglePoint 3, located at 901 E. Northfield Drive in Brownsburg, totals 396,000 square feet and features 32-foot clear heights. The last property is located at 710 S. Girls School Road in Indianapolis and is 1.3 million square feet and 100 percent leased. John Huguenard, Sean Devaney and Ed Halaburt of JLL represented the seller in the transaction. The buyer was self-represented. HFF placed a $100.2 million 10-year, fixed-rate loan with an international life insurance company on behalf of the joint venture.
INDIANAPOLIS — JLL has arranged the sale of a 16,500-square-foot office building in Indianapolis. MID by Design LLC sold the building, located at 9800 Association Court, to CKH Realty for an undisclosed price. The property consists of a 13,900-square-foot open studio with 21-foot ceilings and 2,600 square feet of mezzanine space. Kevin Gillihan of JLL represented the seller in the transaction, and Tim O’Brien of O’Brien Commercial Real Estate represented the buyer.
AVON AND INDIANAPOLIS, IND. — BayView Advisors has negotiated the sale of a three-property, self-storage portfolio in Indiana for an undisclosed price. National Storage Affiliates Trust acquired the properties from Kentucky Avenue Self Storage Inc., Avon Self Storage Lockers Inc. and Avon Self Storage Spot Inc. The 245,664-square-foot portfolio consists of 160 climate-controlled units, 1,335 non-climate controlled units, 112 alarmed units and 111 spaces for boat and vehicle parking. SecureCare will manage the properties, which are located at 71 Vista Parkway in Avon; 9303 US Highway 36 in Avon; and 4115 Heiney Road, Indianapolis. Jay Crotty and Ryan Clark of BayView Advisors represented the sellers in the transaction.
WEST LAFAYETTE, IND. — Prime Property Investors has sold a 25-building student housing portfolio near Purdue University in Indiana for $47.2 million. The portfolio includes a total of 777 beds. Prime Property Investors owned and managed all of the buildings, which include a mix of studio, one-, two-, three- and four-bedroom units. The buildings operated at 100 percent occupancy in the 10 years that Prime Property Investors owned them. Prime Property Investors sold the assets in 18 separate transactions. The undisclosed buyers included a combination of local, national and foreign investment groups. Purdue University had a fall 2015 enrollment of 39,000 students.
INDIANAPOLIS — A private equity investment fund has purchased Traditions at Reagan Park and Traditions at Solana, both independent living, assisted living and memory care communities in the Indianapolis metropolitan area, for $44.8 million. Greystone, a real estate lending, investment and advisory company, arranged the deal through its Real Estate Advisors group. The seller was Leo Brown Group. Traditions at Reagan Park and Traditions at Solana are both newly constructed communities with 81 units and 105 units, respectively.
PLAINFIELD, IND. — JLL has arranged a 176,000-square-foot industrial lease in Plainfield, approximately 18 miles southwest of Indianapolis. Best Choice Products will occupy space at Building One within the Plainfield Business Park. The lease for Best Choice Products will bring the 352,960-square-foot facility, located at 2370 Perry Road, to full occupancy. The building features a cross-dock configuration, 32-foot clear heights, 26 docks, one drive-in door, 60-foot loading bays, 21 trailer parking spaces and 130 auto parking spaces. Chip Barnes and Matt Dickerson of JLL represented the landlord, Clarion Partners, in the lease transaction. Steve Schwegman of JLL represented Best Choice Products.
INDIANAPOLIS — Colliers International has negotiated the sale of an 82,565-square-foot historic office building in downtown Indianapolis for $4.9 million. NAYA USA Investment purchased the building, One North Pennsylvania, from One North Penn LLC. The building was constructed in 1909 and is currently 69 percent leased. Tenants at the property include Centier Bank, Pita Pit and Alpha Tau Omega. Alex Cantu, John Demaree, Matt Langfeldt and Rich Forslund of Colliers International represented the seller in the transaction. Beau Ansty of Stenz Management represented the buyer.
GREENFIELD, IND. — Cushman & Wakefield has arranged a $43 million sale-leaseback of a cold storage distribution center in Greenfield, approximately 25 miles east of Indianapolis. Centurion Investments LLC acquired the 419,052-square-foot asset from Smithfield Foods Inc. and is subsequently leasing it back to a subsidiary of Smithfield Foods. The distribution center is situated on 48 acres and is located within the Axcess 70 Business Park. The facility includes 203,081 square feet of cooler space, 81,086 square feet of freezer space, 40,498 square feet of swing rooms, two floors of office space, 48-foot clear heights and the opportunity to expand by an additional 200,000 square feet. Scott Goldman, Michael Christian and Jeff Castell of Cushman & Wakefield represented Smithfield Foods in the transaction.