REBusinessOnline

NorthMarq Arranges $3.8M Acquisition Loan for Preschool in O’Fallon, Missouri

O’FALLON, MO. — NorthMarq has arranged a $3.8 million loan for the acquisition of Little Sunshine’s Playhouse in O’Fallon. The 9,726-square-foot preschool is located at 4220 State Highway K. Dan Baker and Jeff Chaney of NorthMarq arranged the 10-year loan, which features a fixed rate and a 25-year amortization schedule. Chez II Sunshine LLC was the borrower. A life insurance company provided the

Melton Machine to Occupy New 367,000 SF Headquarters in Missouri

WASHINGTON, MO. — Melton Machine & Control Co. (MMCC) will celebrate its 50th anniversary early next year and move into a new headquarters and manufacturing facility in Washington, about 50 miles west of St. Louis. Contegra Construction Co. is building the 367,000-square-foot project, which will more than double the size of MMCC’s current operations and include a 74,000-square-foot corporate office, training and conference space. The facility is located on a 42-acre site in Heidmann …

LANE4 Begins Development of Two Senior Living Communities in Metro Kansas City

OVERLAND PARK, KAN. AND BLUE SPRINGS, MO. — LANE4 Property Group has begun development of two senior living communities in metro Kanas City. Both facilities, expected to open in summer 2020, will be branded as Novel Place. One property will be situated at 95th Street and Metcalf Avenue in Overland Park, while the other will be located at Highway 40 and Highway 7 in Blue Springs. Each location will include 134 independent living units across three stories. Community amenities will include …

NorthMarq Arranges $54.5M Construction Financing for Multifamily Property in Chesterfield, Missouri

CHESTERFIELD, MO. — NorthMarq has arranged debt and joint venture equity financing for the construction of Wildhorse, a 188-unit multifamily property in Chesterfield. Located at Wildhorse Creek Road and I-64, the $80 million development will also include 12,500 square feet of retail space and 10,500 square feet of restaurant space. Construction is set to begin this month with completion slated for early 2021. Brinkmann Constructors is the contractor. NorthMarq arranged the $38 million debt …

Disney Investment Group Brokers Sales of Five Retail Centers in Missouri, Iowa

MISSOURI AND IOWA — Disney Investment Group (DIG) has brokered the sales of five retail centers in Missouri and Iowa. Sales prices were not disclosed. The properties total 438,861 square feet and are 91 percent occupied on average. Major tenants include Aldi, Gerbes, County Market, Orscheln, Fresenius Medical, Dollar Tree and Dollar General. David Disney and Adam Crockett of DIG brokered the sales on behalf of the seller, a private investment partnership. The team also procured the buyers for …

NorthMarq Secures $3M Acquisition Financing for Mixed-Use Property in St. Louis

ST. LOUIS — NorthMarq has secured a $3 million loan for the acquisition of Wildwood Plaza in St. Louis. The 17,490-square-foot mixed-use property is situated on a one-acre site. Jeff Chaney and Dan Baker of NorthMarq arranged the loan on behalf of the borrower, Chez IX Wildwood Plaza LLC. Life insurance company StanCorp Financial Group provided the 10-year loan, which features a fixed rate and a 25-year amortization

Berkadia Arranges $15M Refinancing for Multifamily Property in Independence, Missouri

INDEPENDENCE, MO. — Berkadia has arranged a $15 million loan for the refinancing of Cedar Ridge, a 234-unit multifamily property in Independence, about 10 miles east of Kansas City. The community features one-, two- and three-bedroom floor plans. Amenities include a playground, tennis court, clubhouse, community garden and laundry facilities. Andy Ahlers of Berkadia arranged the Fannie Mae loan on behalf of the borrower, San Francisco-based Cedar Ridge Apartment Homes LLC. The 15-year loan …

Block & Co. Brokers Sale of 25,490 SF Office Building in Independence, Missouri

INDEPENDENCE, MO. — Block & Co. Inc. Realtors has brokered the sale of a 25,490-square-foot office building formerly owned by Commerce Bank in Independence, about 10 miles east of Kansas City. The sales price was not disclosed. The multi-tenant property is located at 300 N. Osage St. Current tenants include Habitat for Humanity and Heritage Physicians Group. Bill Maas of Block & Co. represented the undisclosed buyer. In addition, Maas will handle leasing of the building’s …

Tutera Opens Tiffany Springs Senior Living Community in North Kansas City

NORTH KANSAS CITY, MO. — Tutera Senior Living & Health Care has opened the 172-unit independent living portion of Tiffany Springs Senior Living Community in North Kansas City. The $55 million, 289,000-square-foot property is located at 9101 N. Ambassador Drive. Tutera expects the community’s 89 memory care and assisted living units to be available in late August. Amenities include a day spa, heated pool, outdoor courtyard, yoga studio, art studio, theater room, chapel, dog park, …

Plymouth Industrial REIT Acquires Two-Tenant Building in St. Louis for $5.4M

ST. LOUIS — Plymouth Industrial REIT Inc. (NYSE: PLYM) has acquired a Class B industrial building in St. Louis for $5.4 million. Located in the Hazelwood/Airport submarket with convenient access to I-70, the 129,000-square-foot building is fully leased to two tenants. Motor Service Inc. is an industrial equipment supplier, specialized trucking and airfreight hauler, and warehousing and materials handler. Wellfit Parts International Co. is a customer service collision parts and accessory parts …

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