Viking Partners, DRA Advisors Acquire Towers of Kenwood in Suburban Cincinnati for $80.6M

CINCINNATI — Viking Partners Fund IV LLC, in conjunction with a fund managed by DRA Advisors LLC, has acquired Towers of Kenwood in Cincinnati. Ajoint venture of Hines and a subsidiary of a real estate fund managed by Oaktree Capital Management LP sold the office property for$80.6 million, according to the Cincinnati Business Courier. Towers of Kenwood is a 404,425-square-foot, seven-story office building located at the intersection of I-71 and Montgomery Road. The property was 97 percent …

May 17, 2019Acquisitions, Midwest, Office, Ohio

Construction Underway for First Retail Phase of Hamilton Quarter in Columbus

COLUMBUS, OHIO — Casto is underway on construction of the first retail phase of Hamilton Quarter in Columbus. This phase includes a 250,000-square-foot shopping center anchored by Target and Hobby Lobby. Both the 125,000-square-foot Target and the 55,000-square-foot Hobby Lobby are slated to open in October. Other planned tenants include Five Below, Aqua Tots Swim School, Beerhead Bar & Eatery, The Nail Boutique, Clean Juice, Sprint and Great Clips. The 40-acre retail site is immediately …

May 17, 2019Development, Midwest, Ohio, Retail

128-Room Cambria Hotel Opens in Downtown Omaha

OMAHA, NEB. — Choice Hotels International Inc. has opened the Cambria Hotel Omaha Downtown. The 128-room hotel is the newest addition to Omaha’s NoDo district. The property features a fitness center, multi-function meeting space and onsite dining with local craft beer on tap. The LEED Silver-certified hotel incorporates a number of eco-friendly features, including a solar array on the roof, a saltwater pool that reduces chemical usage, electric vehicle car charging stations and recycled …

May 17, 2019Development, Hospitality, Midwest, Nebraska

IPA Brokers $11M Sale of Skilled Nursing Facility in Urbana, Illinois

URBANA, ILL. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of the Champaign County Nursing Home in Urbana for $11 million. The skilled nursing facility includes 243 beds. Joshua Jandris, Mark Myers and Matthew Andriano of IPA represented the seller, Champaign County. The team also procured the buyer, University Rehab Real Estate

May 17, 2019Acquisitions, Illinois, Midwest, Multifamily, Seniors Housing

Berkadia Arranges $9.5M Sale of Multifamily Property in Milwaukee

MILWAUKEE — Berkadia has arranged the sale of Franklin Park Apartments in Milwaukee for $9.5 million. The 128-unit multifamily property was 95 percent occupied at the time of sale. Ralph DePasquale, Parker Stewart and Alex Blagojevich of Berkadia represented the seller, Milwaukee-based Brickman Real Estate and Peloton Investors. Chicago-based Tricap Residential Group purchased the

May 17, 2019Acquisitions, Midwest, Multifamily, Wisconsin

Lynmark Group Opens 301-Unit Apartment Complex at Wheeling Town Center in Suburban Chicago

WHEELING, ILL. — The Lynmark Group has completed the ONE luxury apartments at Wheeling Town Center in suburban Chicago. A grand opening weekend event for the public will take place Friday through Sunday, May 17-19. The property offers unique floor plans with private terraces, balconies, keyless entry and in-unit washer and dryers. Amenities include Peloton bikes, dog washing stations, pool and cabana, yoga studio, clubroom, demonstration kitchen and electric vehicle car charging stations. …

May 16, 2019Development, Illinois, Midwest, Multifamily

Stahl Named Construction Manager for Dual-Branded Hotel in Downtown Minneapolis

MINNEAPOLIS — Lake City Hospitality LLC, comprised of Eagan-based JR Hospitality and Iowa-based Hawkeye Hotels, is partnering with Stahl to convert a vacant office tower and surrounding site located at 317 Second Ave. in downtown Minneapolis into a dual-branded Hilton hotel. The eight-story building will undergo an $18.8 million renovation and 41,129-square-foot addition. The newly transformed space will feature 201 Tru and Home2 Suites guestrooms. Originally built in 1900, the existing …

May 16, 2019Development, Hospitality, Midwest, Minnesota

Triloma Seniors Housing Acquires Two Assisted Living Communities Near St. Louis

GRANITE CITY AND GODFREY, ILL. — Triloma Seniors Housing, an affiliate of Triloma Financial Group, has acquired The Fountains at Granite City and The Fountains at Godfrey, both located in Illinois just across the Mississippi River from St. Louis. The communities offer a combined 135 assisted living units. Cedarhurst Living will take over operations. Regions Bank provided acquisition financing through its healthcare real estate group. The amount of the financing and the sales price of the …

May 16, 2019Acquisitions, Illinois, Midwest, Multifamily, Seniors Housing

Brown Bag Seafood Co. to Join Tenant Lineup at Willis Tower’s Catalog in Chicago

CHICAGO — Brown Bag Seafood Co. will open its newest location in Willis Tower. The fast-casual seafood concept will be located in Catalog, the 300,000-square-foot dining and retail area at the base of the office tower. Catalog is currently under construction. Willis Tower is undergoing a $500 million renovation project, the biggest transformation in the building’s 46-year history. The first phase is expected to be open to the public in late 2019. Brown Bag Seafood Co. joins Convene, …

May 16, 2019Illinois, Leasing Activity, Midwest, Retail

Dominion Brokers Sale of 11,050 SF Industrial Building in Wayne, Michigan

WAYNE, MICH. — Dominion Real Estate Advisors has brokered the sale of an 11,050-square-foot industrial building in Wayne for an undisclosed price. The property is situated at 39115 Maple Road. BTS Logistics Inc., a Michigan-based trucking company, purchased the building. Andrew Boncore and Ralph Steinbrink of Dominion represented the seller, BKG Dominion Maple

May 16, 2019Acquisitions, Industrial, Michigan, Midwest