CHICAGO — Cushman & Wakefield has secured $55.8 million in acquisition financing for the Regent O’Hare Industrial Portfolio in Elk Grove Village. CIBC provided the financing on behalf of the borrowers, Investcorp International Realty Inc. and Brennan Investment Group. Regent O’Hare includes eight industrial buildings totaling 955,460 square feet. The portfolio is 92 percent leased by roughly 55 tenants. Jeff Altenau, Gideon Gil and Zach Yarnoff of JLL represented the borrowers. Loan terms were not disclosed.
PALATINE, WAUKEGAN, ELGIN AND CHICAGO, ILL. — Walker & Dunlop Inc. has structured $38.4 million in HUD financing for four skilled nursing properties in Illinois, all within 50 miles of Chicago. The collection of properties includes Aperion Care Plum Grove, a 69-bed facility in Palatine; Pavilion of Waukegan, a 112-bed property in Waukegan; Park View Rehab Center, a 112-bed facility in Chicago; and River View Rehab Center, a 203-bed asset in Elgin. Joshua Rosen of Walker & Dunlop led the origination team. The loans feature fixed rates, a declining prepayment schedule and terms ranging from 30 to 34 years.
ELK GROVE VILLAGE, ILL. — Marcus & Millichap has brokered the sale of a FedEx Ship Center in Elk Grove Village for $4 million. FedEx occupies the 36,395-square-foot building on a net-lease basis. The property is located at 1200 Devon Ave. near the Chicago O’Hare International Airport. Dominic Sulo of Marcus & Millichap marketed the asset on behalf of the seller, a limited liability company. Buyer information was not disclosed.
CHICAGO — Chicago-based developer Sterling Bay has sold the 575,000-square-foot corporate headquarters for McDonald’s in Chicago’s Fulton Market. Pittsburgh-based investment firm Normandy Properties purchased the asset for $412.5 million, according to the Chicago Sun Times. The building, located at 110 N. Carpenter St., features a 700-person conference center, fitness center, onsite parking, collaboration space and outdoor terraces. It was completed in 2018. Ground-floor retail tenants include Walgreens and Federal Express. Jaime Fink, Jeffrey Bramson, Bruce Miller, Patrick Shields and Sam DiFrancesca of JLL represented Sterling Bay. Keith Largay and Tim Joyce of JLL arranged acquisition financing. McDonald’s previously was headquartered in the suburbs in Oak Brook.
ROSEMONT, ILL. — Reyes Holdings has signed a 141,000-square-foot office lease renewal at One O’Hare Centre in Rosemont. Reyes has maintained its headquarters at the building since 2010. Located at 6250 N. River Road, One O’Hare Centre spans 380,000 square feet and is 90 percent leased. MDC Realty Advisors and Nicola Wealth Real Estate purchased the property in 2015. This year, ownership upgraded the HVAC filtration systems with UV light filters. The lobby and common areas are currently undergoing improvements. Francis Prock, Jonathon Connor and Steve Kling of Colliers International represented ownership. Jeff Liljiberg of JLL represented Reyes, which is the parent company of Reyes Beverage Group, Martin Brower, Great Lakes Coca-Cola, Reyes Coca-Cola and Reyes Fleet Management.
CHICAGO — Interra Realty has arranged the sale of a 12-unit luxury apartment building in Chicago’s Lincoln Park neighborhood for $5.8 million. The price per unit of $481,250 is the highest in the submarket in four years, according to CoStar. The asset was built in 2017 as condos but has always operated as a rental property. It is located at 1513-17 W. Diversey Parkway. Jeremy Morton and Ted Stratman of Interra represented the seller, a local real estate developer. A California-based private investor purchased the property while completing a 1031 exchange. The building was fully leased at the time of sale.
CHAMPAIGN, ILL. — GMH Capital Partners LP and AGC Equity Partners have acquired The Dean, a 672-bed student housing property in Champaign, for an undisclosed price. The seller, Core Spaces, completed development of the property this past summer. Spanning 240,737 square feet and rising 17 stories, The Dean is an off-campus community serving the University of Illinois-Urbana Champaign campus. Its ground-floor retail space houses Target and Jimmy John’s. Units average 683 square feet and contain private bathrooms and modern finishes. Amenities include a fitness center, rooftop sundeck, pool, hot tub, outdoor lounge and multiple study areas. Monthly rents start at $695 for shared units.
DES PLAINES, ILL. — CORFAC International has named Jonathan Salk as CEO of the organization. Salk previously served as executive director. Since joining CORFAC in 2015, he has been responsible for day-to-day operations of the organization and spearheaded growth. Thirty new offices have joined CORFAC since 2015, bringing the total count to 75 offices globally. Salk has also been instrumental in expanding the CORFAC sponsorship program, arranging industry alliances and rolling out new education and networking initiatives. Founded in 1989, Des Plaines-based CORFAC is a global brokerage network comprising privately held commercial real estate firms.
ILLINOIS AND OHIO — Investcorp has acquired 32 industrial properties totaling approximately 3.5 million square feet across four U.S. markets. The value of the acquired properties was more than $280 million. The assets are 96 percent leased and consist of a variety of Class A and B warehouse, distribution and flex industrial buildings. Tenants work in the healthcare, logistics, e-commerce, telecommunications and food service industries. Most of the properties are located in Chicago and Cleveland but others are situated in Columbus and Cincinnati. The acquisition grows Investcorp’s U.S. industrial portfolio to roughly $2 billion with 22 million square feet across 260 buildings.
LIBERTYVILLE, ILL. — JLL Capital Markets has arranged $15.7 million in post-acquisition financing for Red Top Plaza, a 147,840-square-foot retail center anchored by Jewel-Osco in the suburban Chicago town of Libertyville. The property is also home to a mix of service, essential, restaurant and medical tenants. Christopher Drew, Brian Gaswirth, Christopher Knight and Michael DiCosimo of JLL worked on behalf of the borrower, Florida-based Sterling Organization. An insurance company provided the 10-year, fixed-rate loan.