TROY, MICH. — Power Home Solar & Roofing has signed a 17,986-square-foot office lease at 500 Stephenson Highway in Troy. The Mooresville, N.C.-based company specializes in solar energy and roofing services. The Troy office will enable the company to address ongoing growth and expansion of call center operations. Aaron Smith and Mason Capitani of L. Mason Capitani CORFAC International represented the tenant in the lease transaction. The landlord was not disclosed.
INKSTER, MICH. — Friedman Real Estate has arranged the sale of a 28,900-square-foot industrial building in Inkster, about 20 miles west of Detroit. The sales price was not disclosed. The property is located at 3000 Middlebelt Road. Phil Konopitski of Friedman represented the buyer, Abdul Saleh. Kodiak Properties was the seller. Tenants were not disclosed.
ROMEO, MICH. — Capital One has provided a $17.1 million HUD 232/223(f) loan for the refinancing of a 104-unit skilled nursing facility in Romeo, a northern suburb of Detroit. Built in 2014, the facility features large therapy areas catering to Medicare and managed care residents and includes common areas such as a bistro. Joshua Rosen of Capital One originated the loan on behalf of the undisclosed borrower. The loan will enable the borrower to refinance existing bank debt as well as partnership debt.
DETROIT — The Christman Company has completed the restoration of the Old Wayne County Building located at 600 Randolph St. in Detroit. The scope of the project included improvements to the exterior façade and lighting as well as the removal of old furniture. Since March 2016, the building’s ownership group has invested $7 million in restoring the property. Quinn Evans Architects served as the project architect. The 250,000-square-foot building has been vacant since Wayne County government left the property in 2009 and moved to the Guardian Building on Griswold Street. The property is listed on the National Register of Historic Places.
GRAND HAVEN, MICH. — Brennan Investment Group LLC has purchased a 90,121-square-foot industrial property in Grand Haven, about 33 miles west of Grand Rapids. The purchase price was not disclosed. The property serves as the headquarters and manufacturing facility for Lakeshore Fittings, which specializes in brass and aluminum machined components and fittings. The tenant has occupied the facility since its completion in 1989. The seller was not disclosed.
ANN ARBOR, MICH. — Oxford Cos. has acquired 777 East Eisenhower Parkway on Ann Arbor’s south side. The purchase price was $29.5 million, according to local media reports. The office building spans 10 stories and 290,000 square feet. Oxford will all retain all leasing and property management services for the asset. Tenants include a mix of financial, technology, legal and health companies. Oxford plans to invest $10 million in building improvements, including renovations to the first floor. The seller was not disclosed.
KALAMAZOO, MICH. — Berkadia has arranged the sale of 700 SoHo near Western Michigan University in Kalamazoo for $19 million. The 488-bed student housing property, located at 700 S. Howard St., consists of four-bedroom units. Amenities include a resort-style pool and renovated clubhouse. Kevin Larimer and Greg Gonzalez of Berkadia brokered the sale. A Pittsburgh-based real estate company acquired the asset.
DETROIT — Greystone Bel has arranged the sale of Carlton Apartments in Detroit for an undisclosed price. The 144-unit, garden-style apartment community is located in the Lafayette Park neighborhood. Built in 1971 and located at 1387 East Larned St., Carlton Apartments offers studio, one-and two-bedroom floor plans. Cary Belovicz of Greystone Bel represented the undisclosed seller. Belovicz, along with John Marr of Greystone, also secured a 10-year Fannie Mae loan that features a 4.96 percent fixed rate on behalf of the buyers, Andover Real Estate Partners and The M-Group.
ADA, MICH. — MichiganLabs has expanded into the second floor at 452 Ada Drive in Ada, about 10 miles east of Grand Rapids. In December, the software developer leased 2,541 square feet on the third floor. The new office space, totaling 1,643 square feet, will be called “The Lab” and will allow the company to expand its services and hire additional developers. First Cos. is building out the space and Integrated Architecture is providing interior design services. MichiganLabs plans to occupy the new space starting Oct. 7. Jason Webb of Colliers International represented MichiganLabs in the new lease. Brian Sikma of Highpoint Real Estate represented the undisclosed landlord.
MICHIGAN — Bellwether Enterprise Real Estate Capital LLC has arranged a $42.6 million Fannie Mae loan for the acquisition of a portfolio of 10 mobile home community communities in Michigan. Specific properties and locations were not disclosed, but the portfolio spans 1,715 pad sites. MJ Vukovich of Bellwether Enterprise arranged the structured loan on behalf of the borrower, an owner-operator based in the western states. The 16-year loan features four years of interest-only payments followed by 12 years at a fixed rate of 4.9 percent.
