OMAHA, NEB. — Q10 | Daisley Ruff Financial has arranged $7 million in permanent financing for Aksarben Village 2, a Class A office property in Omaha. The loan features a 10-year, fixed-rate term with a 25-year amortization schedule. The non-recourse loan also features no holdbacks for tenant improvements or reserves. Steve Ruff and Eric Petersen of Q10 | Daisley Ruff Financial arranged the financing.
TROY, MICH. — Colliers International has arranged the sale of a 50,000-square-foot flex building in Troy, a northern suburb of Detroit. The property is located on West Maple Road. Wild Bills Tobacco purchased the building from Atlas Building LLC for an undisclosed amount and plans to renovate the entire building and relocate its corporate offices to the facility. Raffi Derbabian of Colliers represented Wild Bills Tobacco.
CLEVELAND, OHIO — Friedman Integrated Real Estate Solutions has brokered the sale of a 41,780-square-foot retail property in Cleveland. Brooklyn Centre is located at 3712-3762 W. 125th St. and is situated on 2.9 acres. The retail center was built in 1993 and is comprised of three buildings. The largest building is 29,780 square feet and is configured for a single tenant. The other two buildings are 6,000 square feet each. One facility is for a single tenant, and the other is a multi-tenant building. Tenants in Brooklyn Centre include Rent-A-Center and CVS Pharmacy. Rich Deptula of Friedman represented both undisclosed parties in the transaction.
INDIANAPOLIS — Trinitas has broken ground on The Collegiate, a 193-unit, 669-bed student housing project that will reside on 2.8 acres of land in downtown Indianapolis and serve students of Indiana University–Purdue University Indianapolis. The project will feature a mix of one-, two-, three- and four-bedroom apartments. Each fully furnished unit will include bedrooms with private bathroom suites, walk-in closets, a washer and dryer unit and high-speed Internet with wireless capabilities. The complex, designed by Ratio Architects, includes two buildings ranging from five to 11 stories and is anticipated to open in August 2017. It will include 3,100 square feet of retail space and 370,000 square feet of amenities, including a five-level parking garage, outdoor courtyard with a basketball court, and resort-style pool and sundeck with water volleyball and grilling stations. Student residents will have access to a 5,196 square foot, all-inclusive clubhouse featuring a fitness center, free tanning, a computer café, private study lounges, gaming stations and large-screen TVs.
EAU CLAIRE, WIS. — Dougherty Funding LLC has closed a $15.3 million construction loan for Hotel Lismore, a DoubleTree Hotel by Hilton. Dougherty provided the financing to ECHL LLC. The construction involves redeveloping an existing hotel property located in downtown Eau Claire. The new full-service hotel will feature 112 rooms and a 14,406-square-foot convention center. The property will also include a fine dining restaurant, coffee shop, bar/lounge, fitness center and a business center. The convention center renovation is complete and the space is available for use. The entire project is slated for completion by April 2016. Dougherty Funding was the lead lender in the transaction and will also service the loan.
CINCINNATI, OHIO — NorthMarq Capital has arranged $7.2 million in acquisition financing for Kemper Point in Cincinnati. Kemper Point is a 96,418-square-foot office building located at 7870 Kemper Road. An affiliate of Smith/Hallemann Partners was the borrower. The transaction was structured with a 10-year term and 25-year amortization schedule. Susan Branscome of NorthMarq arranged the financing. Tenants in the office building include Comey & Shepherd Relators, Hazen and Sawer P.C. and Kiwiplan Inc.
SHAKOPEE, MINN. — Marcus & Millichap has brokered the sale of Dean Lakes in Shakopee, a southwest suburb of Minneapolis. The 7,826-square-foot retail center, located at 4041-4061 Dean Lake Blvd., sold for $2 million. The property is 100 percent occupied. Tenants include Qdoba, Shakopee Wine and Siriouthay. Matthew Hazelton, Adam Prins, Cory Villaume and Sean Doyle of Marcus & Millichap represented both undisclosed parties in the transaction. Brian Klancke also assisted in procuring and representing the buyer.
CHICAGO — Millennium Properties R/E has arranged the sale of a 69,000-square-foot infill industrial site in the Old Irving Park neighborhood of Chicago. The parcel of land is in the Knox Industrial Corridor. Dayton Street Partners purchased the site for an undisclosed amount from North Shore Investment Group and plans to redevelop it as a 40,000-square-foot distribution center. Dayton Street Partners’ development plan calls for 30-foot clear heights, four dock doors, two drive-in docks and T8 lighting. Millennium Properties R/E, which represented the undisclosed seller in the transaction, is a boutique brokerage and property management company.
KALAMAZOO, MICH. — NAI Wisinski of West Michigan has brokered the sale of a 180-unit apartment complex in Kalamazoo for an undisclosed price. Trillium Ventures MSV purchased The Landing, a 156,395-square-foot property located at 3306 W. Main St. near Western Michigan University. The complex was built in 1967 and includes a clubhouse, an outdoor swimming pool, volleyball court, central air conditioning and a laundry room in each building. Craig Black and Scott Nurski of NAI represented the undisclosed seller and procured the buyer.
BERWYN, ILL. — Reed Construction has completed an 11,250-square-foot remodeling project for MacNeal Hospital in Berwyn, a western Chicago suburb. The remodeling was for the Acute Care Rehabilitation Center within the hospital. The renovation of the 427-bed facility involved interior demolitions, a complete rebuild and upgrades to the mechanical, electrical and plumbing systems. The new suite offers 13 patient rooms, two nurse’s stations, an employee breakroom and a room for the secure storage of medications. The suite also features a rehabilitation gym and an activities-of-daily-living (ADL) apartment, where patients can practice living independently under the supervision of their respective healthcare professionals. The entire project was completed in seven weeks. Joe Kozlowski was the project manager and Mac Flasch was the project engineer. MRF Ltd. and in.design inc. provided the design and architectural services.