BEDFORD, OHIO — Greystone’s Real Estate Advisors group has arranged the sale of Woodside Village, a 211-unit assisted living and memory care community in the Cleveland suburb of Bedford, for $6.5 million. Pritok Capital purchased the property from a public healthcare REIT. MB Financial served as the lender on the transaction. Woodside Village was built in 1988 and sits on 20 acres. The facility is 164,920 square feet.
DES PLAINES, ILL. — Marcus & Millichap has brokered the sale of an office property in Des Plaines, approximately 20 miles northwest of Chicago, for $5.3 million. Touhy Office Plaza, located at 1400 E. Touhy Ave., was built in 1972 and renovated in 2013. J. Emil Anderson & Son Inc. sold the four-story, 126,088-square-foot building. The company will continue to occupy space within the building. The buyer was a Chicago-based private investment group. Stephen Lieberman of Marcus & Millichap represented the seller in the transaction.
LIVONIA, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 155,433-square-foot industrial facility for an undisclosed price. EWI sold the building, which is located at 13211 Merriman Road in Livonia, approximately 20 miles northwest of Detroit. Alta Equipment Co., a Midwest forklift and heavy construction equipment provider, purchased the property. David Friedman and Phil Konopitski of Friedman Integrated Real Estate Solutions represented both parties in the transaction.
DETROIT — Image Capital LLC has purchased two out of three buildings belonging to the luxury Riverfront Towers property in Detroit for $79.5 million, according to Crain’s Detroit. Riverfront Tower Holding LLC was the seller. Tower 100, built in 1992, is 26 stories and contains 271 units. Tower 200, built in 1983, is 29 stories and contains 282 units. Tower 300, which was converted into 285 condominiums between 2005 and 2007, is not included in the sale. The property is situated on 11.7 acres and totals 571,831 square feet. Amenities include a fitness center, tennis and volleyball courts, a running track, indoor pool and spa, a dog run, jogging trails, a restaurant, picnic and grilling areas and a 722-space parking deck. Riverfront Towers offers a mix of one- and two-bedroom units that average 1,034 square feet. Apartment Management Professionals Residential will manage the property. Rick Vidrio and Rick Brace of Berkadia brokered the transaction.
CHICAGO — Harrison Street Real Estate Capital LLC, a private equity firm, has purchased the “Nellie Black” property at the former Children’s Memorial Hospital in the Lincoln Park neighborhood of Chicago. Harrison Street plans to partner with operator Belmont Village Senior Living to convert the property into a seniors housing facility named Belmont Village Lincoln Park. The new community will feature 160 assisted living and memory care units and will be part of the larger Lincoln Common mixed-use development. Co-developed by McCaffery Interests and Hines, when completed Lincoln Commons will consist of two 19-story luxury apartment buildings with a total of 540 units, up to 60 low-rise condominiums, and approximately 160,000 square feet of retail and commercial space. The developers plan to break ground on Belmont Village Lincoln Park in early 2017. The project is set for completion in 2018.
GRIMES, IOWA — The Opus Group has completed the construction of the Gateway Industrial Center, an 182,000-square-foot industrial warehouse and office facility in Grimes, approximately 15 miles northwest of Des Moines. The speculative facility is already 100 percent leased to tenants such as Owens & Minor, American Contract Systems and Laser Resources. Gateway Industrial Center, which is situated on 16 acres, features an ESFR sprinkler system, 23 dock doors, two drive-in doors and 32-foot clear heights. Opus Development Co. and Founders Properties LLC own the Gateway Industrial Center.
MERRILLVILLE, IND. — McShane Construction Co. has completed the construction of Merrillville Memory Care, a 48-unit memory care community in Merrillville, approximately 40 miles southeast of Chicago. Dete Development hired McShane on behalf of Whiteco Industries, the land owner. The 33,760-square-foot, single-story complex is located on a nine-acre site.
KETTERING, OHIO — Bernard Financial Group has arranged a $5.4 million loan to refinance Fox Hunt Apartments in Kettering, approximately six miles south of Dayton. The 250-unit complex consists of 17 two-story buildings. Fox Hunt Apartments was built in 1975 and is situated on 14.3 acres. Amenities at the property include a business center, fitness center, laundry facility, clubhouse, playground and swimming pool. Fox Hunt Owner LLC is the borrowing entity. Dennis Bernard and Kevin Kovachevich of Bernard Financial originated the loan through a CMBS lender.
CHICAGO — KeyBank Real Estate Capital has provided a $182 million Freddie Mac loan and a $142 million corporate credit facility to Enlivant, a Chicago-based owner and operator of nearly 200 seniors housing communities throughout the United States. The Freddie Mac loan is secured by 36 assisted living communities comprised of 1,477 units in 14 states. The capital provides permanent, non-recourse financing. The corporate credit facility is comprised of a $100 million term loan and a $42 million revolver, secured by 40 assisted living communities that are located throughout 12 states. The credit facility provides Enlivant with capital to implement its operating and growth strategy. Charlie Shoop of KeyBank Healthcare Mortgage Banking Group arranged the Freddie Mac financing. Paul Di Vito, Tim Sylvain and Mark Amantea of KeyBank Real Estate Capital’s Healthcare Group arranged the corporate credit facility.
ITASCA, ILL. — The Opus Group will build a 183,000-square-foot office building for the American Academy of Pediatrics (AAP). The national headquarters facility will be located within the Hamilton Lakes Business Park in Itasca, approximately 30 miles northwest of Chicago. The five-story building will feature 10-foot floor-to-ceiling windows and a two-story lobby, which will serve as the central hub for AAP’s conference center and visitor activity. The office will have areas dedicated to educational training, recording videos for procedures and demonstrations, conferences, outdoor meetings and a historical archival storage area. Construction is slated to start this July and be completed by the fall of 2017. Eric Kunkel and Scott Ohlander of JLL represented AAP in the transaction.