COLUMBUS, OHIO — NXT Capital has provided a $20.6 million first mortgage loan for the acquisition of two multifamily properties, totaling 284 apartment units, in Columbus. An undisclosed borrower acquired the properties: The Reserve at Walnut Creek and The Ravines at Rocky Ridge. Amenities at both properties include a swimming pool, 24-hour fitness center, community center with WiFi, movie theater and billiards area. Additional terms of the financing were not released.
CANAL WINCHESTER, OHIO — Marcus & Millichap has arranged the $1.2 million sale of Ebright Self Storage, a 37,200-square-foot self-storage property located in Canal Winchester. The property is located at 5207 Ebright Road. Brett Hatcher of Marcus & Millichap’s Columbus office represented the seller and the buyer, both limited liability companies.
SPRINGFIELD, OHIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $19.9 million sale of Springfield Commons, a 207,497-square-foot shopping center in Springfield. Lori Schneider of IPA represented the seller, a private investor. American Realty Capital Properties Inc. facilitated the acquisition on behalf of Cole Credit Property Trust IV Inc. Michael Glass of Marcus & Millichap’s Cleveland office is the firm’s broker of record in Ohio. Built in 1995 on 26.5 acres, the asset is located on Springfield’s main retail corridor at 1501 Bechtle Ave. with frontage on Bechtle Avenue, State Route 68 and State Route 41. Tenants at the shopping center include Lowe’s, Best Buy, PetSmart, Aaron’s, Planet Fitness and Mattress Firm.
MASSILLON, OHIO — Marcus & Millichap has brokered the $5.8 million sale of Massillon City Center, a 50,266-square-foot retail property located on Lincoln Way West in Massillon. The center is 91 percent occupied. Tenants at the property include Buffalo Wild Wings, Verizon Wireless and Rockne’s. A Bob Evans restaurant is an outparcel at the property. Craig Fuller, Scott Wiles and Erin Patton of Marcus & Millichap’s Cleveland and Columbus offices represented the seller, a private fund, and the buyer, an individual New York-based investor.
BEAVERCREEK, OHIO — Thorofare Capital has funded a $6.5 million floating rate commercial mortgage loan for the acquisition of the Apple Valley Office Campus, a 130,440-square-foot, three-building office campus in Beavercreek. The properties are located near the intersection of Research Boulevard and Grange Hall Road near Wright Patterson Air Force Base. The borrower is a partnership between two Southern California-based, privately held investment firms. The borrower purchased the portfolio in an off-market transaction. The non-recourse financing structure included an initial term of three years with extensions, and was sized to 70 percent of the total project capitalization. Apple Valley Office Center’s anchor tenants include Northrop Grumman Systems Corp., a global defense and technology company, and MacAulay-Brown, a Dayton-based engineering company. The campus includes more than 500 parking spaces and is accessible via Interstates 675, 75 and 70, as well as State Route 35.
HILLIARD, OHIO — Marcus & Millichap has brokered the $1.4 million sale of Main Street Station, a 6,832-square-foot retail property located in Hilliard. The property is located at 3854-3870 Main St. and was sold to an undisclosed buyer. The center is occupied by four local franchisees. John Reehil of Marcus & Millichap’s Columbus office represented the seller, a limited liability company.
LORAIN, OHIO — Marcus & Millichap has brokered the $1.2 million sale of Advance Auto Parts, a 7,000-square-foot, net-leased property in Lorain. Advance Auto Parts is located at 2025 Broadway. The property was built in 2004 as a build-to-suit for Advance Auto Parts. Dustin Javitch, Scott Wiles, Craig Fuller and Erin Patton of Marcus & Millichap’s Cleveland office represented the seller, a limited liability company. The property was sold to an unnamed publically-traded REIT.
BLOOMFIELD HILLS, MICH. — Agree Realty Corp. has acquired six retail properties for $35.4 million and sold a shopping center in Marshall, Mich. The properties include an H-E-B grocery store in Brenham, Texas; a 24 Hour Fitness in Fort Worth, Texas; a Golden Corral restaurant in Springfield, Ill.; and Advanced Auto Parts stores in Lorai, Ohio; Tallahassee, Fla. And Alabama; and a Dollar General in Blacksburg, S.C. In addition, the Bloomfield Hills, Mich.-based company has sold Marshall Plaza, a Kmart-anchored shopping center, for $5.5 million.
COLUMBUS — KeyBank Real Estate Capital has secured a $22.1 million Freddie Mac loan for Polaris Place, a multifamily apartment community in Columbus. The community was built in 2014 and includes 11, three-story, garden-style apartment buildings, totaling 224 units. The property also includes 10 detached garage buildings, a leasing office and a clubhouse. Timothy Migchelbrink of Key’s Commercial Mortgage Group arranged the financing, which was used to pay off an existing KeyBank construction loan.
LOVELAND, OHIO — Marcus & Millichap has brokered the $6.6 million sale of Symmes Gate Station, a 40,313-square-foot shopping center located in Loveland. CVS anchors the property, which is located at Madeira Road. Burger King and US Bank are out-parcels at the asset. Craig Fuller, Scott Wiles and Erin Patton of Marcus & Millichap’s Cleveland and Columbus offices represented the seller, an Ohio-based developer and the buyer, a Connecticut-based private real estate company.