Midwest

NorthMarq Capital Arranges $13.3M in Financing for Two Multifamily Properties in Kansas

by Christina Cannon February 24, 2016

OVERLAND PARK AND SHAWNEE, KAN. — NorthMarq Capital has arranged a total of $13.3 million in refinancing loans for two multifamily properties in Kansas. Fiesta Square Apartments is located at 9551 W. 85th St. in Overland Park, and Haverford West Apartments is located at 11309 W. 75th St. in Shawnee. The two properties contain a total of 231 units and were built in 1972 and 1984 respectively. NorthMarq arranged financing for the undisclosed borrower through its relationship with Freddie Mac. The transactions were both structured with a 10-year term and 30-year amortization schedule. Greg Duvall of NorthMarq arranged the financing.

February 24, 2016

Industrial Midwest Wisconsin

Brennan Investment Group Acquires 119,040 SF Industrial Facility in Milwaukee

by Christina Cannon February 24, 2016

MILWAUKEE — Brennan Investment Group LLC has acquired a 119,040-square-foot, multi-tenant industrial property in Milwaukee for an undisclosed price. The warehouse and distribution facility is located within the Bradley Industrial Park at 8301 W. Parkland Court. The property was 95 percent occupied at the time of sale. The seller in the transaction was undisclosed.

February 24, 2016

Illinois Industrial Midwest

Brown Commercial Group Arranges 20,139 SF of Industrial Leases in Metro Chicago

by Christina Cannon February 24, 2016

ELK GROVE VILLAGE, ILL. — Elk Grove Village-based Brown Commercial Group has arranged three industrial leases in metro Chicago totaling 20,139 square feet. In the first transaction, Jim Wagner Plumbing leased 9,000 square feet at 51 Eisenhower Lane South in Lombard. Mike Antonelli of Brown Commercial Group represented the tenant in its relocation. Joseph Gatto of Cushman & Wakefield represented the landlord, TA Realty Associates. In the second deal, Trinity Scurto of Brown Commercial Group represented Breda Moving Co., which leased 7,639 square feet to Almtan Midwest. Chuck Hauger of @properties Commercial represented the company in its expansion to 801 Dave Pate Drive in Roselle. Scurto also represented Kane Brandein in its lease of the last 3,500-square-foot space in a 21,000 square-foot building to VIP Limousine, which will occupy Unit F at 101 Kelly Road in Elk Grove Village. John Carbone represented the tenant.

February 24, 2016

Midwest Office Wisconsin

Siegel-Gallagher Negotiates Lease of 3,770 SF of Office Space in Delafield, Wisconsin

by Christina Cannon February 24, 2016

DELAFIELD, WIS. — Siegel-Gallagher has negotiated a 3,770-square-foot office lease in Delafield, approximately 30 miles west of Milwaukee. Gunpowder Inc. will occupy space at Delafield Properties IV, a building located at 440 Wells St. Ace Delafield Properties LLC is the landlord. Devin Tessmer of Siegel-Gallagher brokered the transaction.

February 24, 2016

Indiana Midwest Multifamily Seniors Housing

Mainstreet, Symphony Open $18.8M Skilled Nursing Facility in Indiana

by Christina Cannon February 23, 2016

CHESTERTON, IND. — Mainstreet, an Indiana-based skilled nursing developer, and skilled nursing operator Symphony Post Acute Network have opened Symphony of Chesterton, a 106-bed skilled nursing facility in Chesterton, approximately 45 miles southeast of Chicago. Construction started in May 2015. Mainstreet developed the property and Symphony operates it. The 77,703-square-foot community cost $18.8 million to develop.

February 23, 2016

Hospitality Illinois Midwest

Waramaug Hospitality, Sidra Real Estate Acquire 184-Room Marriott Hotel in Chicago Suburb

by Christina Cannon February 23, 2016

BURR RIDGE, ILL. — Waramaug Hospitality III LLC and Sidra Real Estate Inc. have acquired the Chicago Marriott Southwest at Burr Ridge for an undisclosed price. The 184-room, full-service hotel, located in Burr Ridge, approximately 20 miles southwest of Chicago, features over 10,000 square feet of meeting and event space that can accommodate up to 900 guests. Amenities include an indoor swimming pool, fitness center and business center. The hotel also includes Ciazza Restaurant & Bar. Waramaug is planning to renovate all public areas, guestrooms, meeting spaces and the restaurant. Interstate Hotels & Resorts will manage the property. The seller in the transaction was undisclosed.

February 23, 2016

Illinois Industrial Midwest

PREMIER Design + Build Completes Two Speculative Warehouses in Libertyville, Illinois

by Christina Cannon February 23, 2016

LIBERTYVILLE, ILL. — PREMIER Design + Build LLC has completed the construction of two speculative warehouses in Libertyville, approximately 40 miles northwest of Chicago. The facilities are situated on 21 acres at 804 E. Park Ave. Bridge Development Partners is the project developer. Building 1 at Bridge Point 94 is 185,670 square feet, and Building 2 is 220,542 square feet. Both Class A facilities feature 32-foot clear heights, 56 truck dock positions and ESFR sprinklers. The buildings share a parking lot with 536 spaces. Cornerstone Architects Ltd. provided architectural services, and Pearson, Brown & Associates Inc. was the civil engineering firm. John Hauser and Michael Fonda of Avison Young are overseeing the lease-up of the building.

February 23, 2016

Indiana Loans Midwest Missouri

KeyBank Arranges $11.7M in Financing for Five Parking Properties in Indiana, Missouri

by Christina Cannon February 23, 2016

CLEVELAND —Cleveland, Ohio-based KeyBank Real Estate Capital has provided a total of $11.7 million in first mortgage loans for multiple parking garages in Indiana and Missouri. MVP REIT sponsors the properties. KeyBank provided an $8.2 million loan for a portfolio consisting of City Park Garage and Surface Parking Lot, both located in the central business district of Indianapolis. KeyBank also provided an additional $3.5 million loan for three surface parking lots, two in St. Louis and one in Kansas City. Randy Martin of KeyBank arranged the CMBS, non-recourse loans.

February 23, 2016

Midwest Multifamily Wisconsin

Marcus & Millichap Brokers $1M Sale of 19-Unit Apartment Property in New Richmond, Wisconsin

by Christina Cannon February 23, 2016

NEW RICHMOND, WIS. — Marcus & Millichap has brokered the $1 million sale of a 19-unit apartment property in New Richmond, approximately 45 miles northeast of Minneapolis, Minn. Heritage Apartments consists of 15 two-bedroom and four three-bedroom units located in two buildings, which were built in 1986 and 1997. The property has undergone renovations over the last eight years that include new windows, vinyl siding and roofs. The seller was a limited liability company that sold the asset, located at 1380 Heritage Drive, to a private investor. The property traded at its full list price and had a cap rate below 7 percent. Evan Miller, Mox Gunderson, Matthew Fitzgerald and Dan Linnell of Marcus & Millichap listed the property on behalf of the seller and secured the buyer in the transaction.

February 23, 2016

Indiana Industrial Midwest

Biynah Industrial Partners, Olympus Ventures Acquire Industrial Portfolio in Metro Indianapolis for $167M

by Christina Cannon February 22, 2016

INDIANAPOLIS, PLAINFIELD AND BROWNSBURG, IND. — An entity led by Biynah Industrial Partners and Olympus Ventures has acquired an eight-building industrial portfolio in Indianapolis for $167 million. The Class A portfolio totals nearly 4 million square feet and was purchased from an affiliate of Transpacific Development Co. (TDC). The transaction also includes 42 acres of vacant land in addition to the eight buildings. Each facility is located within a master-planned distribution center. The portfolio is 94 percent occupied. Four buildings, which total 1.5 million square feet, are located in the Airwest Industrial Park in Plainfield. Two buildings, each 281,580 square feet, are situated in the AmeriPlex development in Indianapolis. EaglePoint 3, located at 901 E. Northfield Drive in Brownsburg, totals 396,000 square feet and features 32-foot clear heights. The last property is located at 710 S. Girls School Road in Indianapolis and is 1.3 million square feet and 100 percent leased. John Huguenard, Sean Devaney and Ed Halaburt of JLL represented the seller in the transaction. The buyer was self-represented. HFF placed a $100.2 million 10-year, fixed-rate loan with an international life insurance company on behalf of the joint venture.

February 22, 2016

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