ANN ARBOR, MICH. — Hunt Mortgage Group has provided an $18 million Fannie Mae loan to refinance Hidden Valley Apartments in Ann Arbor. The 324-unit apartment community is located at the northeast corner of State Street and Eisenhower Parkway. Constructed in 1973, the complex consists of seven two-story buildings with 36 studio units, 198 one-bedroom units and 90 two-bedroom units. The 30-year loan includes a 30-year amortization schedule. Cardinal HVC LLC was the borrower. Matt Shane of Q10/Lutz Financial Services was the mortgage broker in the transaction.
APPLETON, WIS. — HREC Investment Advisors has arranged the sale of an 80-guestroom GrandStay Hotel & Suites, a regional hotel chain, in Appleton. The sales price was not disclosed. The hotel is located at 300 N. Mall Drive near the Fox River Mall and Outagamie Regional Airport. Features include an indoor pool, lobby bar and exercise room. Regal Hospitality Inc. was the buyer. Scott Kaniewski of HREC Chicago exclusively represented the seller, Pearlshire Capital.
LOCKPORT, ILL. — The Boulder Group has arranged the sale of a single-tenant property net leased to US Bank in Lockport, 30 miles southwest of Chicago, for $2.1 million. The building is located at 1103 East 9th St. near Lewis University. The triple net lease entered into by US Bank expires in July 2026 and features annual rental escalations of 2.5 percent and three five-year renewal option periods. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, an institutional investment firm. A high net worth individual was the buyer.
GRAND FORKS, N.D. — Marcus & Millichap has brokered the sale of a property net leased to Caribou Coffee and Einstein Bros. Bagels in Grand Forks for $1.8 million. The 2,558-square-foot space is located at 1225 S. Columbia St. Sean Doyle, Matthew Hazelton, Adam “AJ” Prins and Cory Villaume of Marcus & Millichap had the exclusive listing to market the property on behalf of the seller, a developer. Mark Ruble and Jamie Medress of Marcus & Millichap secured and represented the buyer, a partnership. Regional Manager Craig Patterson assisted in closing the transaction.
KANSAS CITY, MO. — CBRE has arranged the sale of Two Pershing Square, a 520,431-square-foot office building in Kansas City. The sales price was not disclosed. The Class A office building, located at 2300 Main St., is 11 stories and anchored by GSA’s Heartland Region office. VanTrust Real Estate LLC purchased the asset from TA Associates. Gina Anderson and Gary Carr of CBRE arranged the transaction on behalf of TA Associates.
MILWAUKEE — Avison Young has arranged the sale of a 249,753-square-foot industrial facility located at 2300 S. 51st St. in Milwaukee. The sales price was not disclosed. Oilgear, a producer of hydraulic pumps, valves and related equipment, sold the facility to relocate production to existing facilities in Fremont, Neb. and Traverse City, Mich. Tom Curtis and Mike McKiernan of Avison Young represented Oilgear in the transaction. Global Power Components was the buyer.
PALATINE, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a 42,588-square-foot retail center in Palatine, a northwestern suburb of Chicago, for $4.5 million. The multi-tenant center is located at 801-861 N. Quentin Road., and includes tenants such as Anytime Fitness, Papa John’s Pizza and H&R Block. A commercial real estate fund based in Denver was the buyer. Chad Firsel of Quantum Real Estate Advisors represented the seller, a Chicago-based investment group.
DEERFIELD, ILL. — Novak Construction has completed the construction of a 9,000-square-foot Portillo’s restaurant in Deerfield, approximately 25 miles north of Chicago. The building is located at 700 Lake Cook Road. Novak’s work on the development included the demolition of an existing building, new site utilities, curbs and asphalt paving. The restaurant opened on Tuesday, Nov. 15.
WALLED LAKE, MICH. — Gerdom Realty & Investment has arranged the sale of a 19,798-square-foot office building in Walled Lake, a northern suburb of Detroit. The sales price was not disclosed. The office building is situated on 4.1 acres at Ladd Road, just south of Maple Road. A Detroit-based church was the buyer. Michael Murphy and Tjader Gerdom of Gerdom Realty represented the seller in the transaction.
LENEXA, KAN. — A partnership between L5 Investments and BH Equities has acquired Lenexa Pointe Apartments, a 289-unit apartment community, for $17.7 million. The property is situated on 20.5 acres at 12000 W. 77th Terrace in Lenexa, approximately 12 miles south of Kansas City, Mo. The community features 145 one-bedroom units and 144 two-bedroom units. The building was originally built in 1972 and renovated in 1992. The partnership is planning a major renovation of the property estimated at more than $6 million, including construction of a new leasing center, business and fitness center, landscaping enhancements and new lighting. BH Equities will manage the property through its property management arm, BH Management Services. Dustin Dulin of JLL arranged the debt on behalf of the partnership. Brandon Grisham of CBRE brokered the deal with both the buyer and the seller, a private investor.